Organization of board of directors
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
(a)The board shall consist of the authorized number of directors; one additional director may be appointed by the division, unless otherwise required under article IV of the Private Housing Finance Law. At the first annual meeting of stockholders, directors will be elected to serve for terms of one, two or three years, designated so that the terms of approximately one third of the total directors, exclusive of the division's designee, will expire in any one year. Thereafter, directors will be elected for a three-year term, except when the election is for an unexpired term.
(b)The board shall elect officers, as prescribed in the bylaws, at the first board meeting after the annual stockholders meeting.