New Jersey § 43:18-3
Full text of New Jersey New Jersey Statutes § 43:18-3, with citation guidance and answers to common questions.
§ 43:18-3.
The first board of trustees, selected as provided in section 43:18-2 of this title, shall serve until the month of January following the incorporation
of the association. At such time three members of the association shall be elected as trustees in place
of the three selected as provided in said section 43:18-2 , by a majority vote of the members of the association as follows: One for the term
of one year, one for the term of two years and one for the term of three years, who
shall serve for the respective terms for which they each were chosen. Thereafter annually, in the month of January in each year, a member of the board
of trustees shall be chosen for a full term of three years to serve in the place of
the trustee whose term shall have then expired, so that the term of office of only
one member shall expire in each year. A vacancy occurring in any manner in the board of trustees or in the office of any
officer of the corporation shall be filled in the manner provided for in the by-laws,
and in the absence of such provision by the board of trustees. The trustees and officers of the corporation shall give bonds, with a duly authorized
surety company as surety thereon, for the faithful performance of their duties in
such sum or sums as the corporation's by-laws fix.
Frequently Asked Questions About New Jersey § 43:18-3
What does New Jersey Statutes § 43:18-3 cover?
Section 43:18-3 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 43:18-3?
A common citation format is "New Jersey Statutes § 43:18-3" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 43:18-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.