Minnesota Statutes 306.35 – Vacancy in Board of Trustees
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In case of the death, resignation, disability, or removal of one or more of the trustees of the fund, the trust at once vests in the remaining trustees, who shall promptly fill the vacancies by appointment. A newly appointed trustee, upon qualification, succeeds to an equal share in the rights and duties of the board.
Terms Used In Minnesota Statutes 306.35
- Trustee: A person or institution holding and administering property in trust.