Section 19. The clerk or secretary shall be elected by the stockholders at their annual meeting or at a special meeting duly called for the purpose.
The president shall be elected by and from the board of directors and shall be chairman of the board unless the board designates a director in lieu of the president to be chairman. The directors shall elect the president, the vice president or vice presidents, treasurer and any other officers. The president, as may be permitted by law or by-law, may select other officers. The officers elected by the board shall hold their respective offices during the pleasure of the directors. The directors may fill a vacancy in the office of clerk or secretary until the next meeting of the stockholders.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 170 - Co-Operative Banks
Section 3 - Change of Corporate Name
Section 4 - Capital Structure Upon Incorporation
Section 6 - Notice of Intention to Form Co-Operative Bank; Application for Certificate
Section 7 - First Meeting of Incorporators
Section 8 - Articles of Organization; Certificate of Incorporation
Section 10 - Applicability of Sections to Mutual Banks and to Stock Banks
Section 12 - Members; Voting Rights
Section 13 - Board of Directors; Clerk; Directors and Officers; Records of Meetings
Section 14 - Security Committee; Audit Committee
Section 15 - Treasurer and Assistant Treasurer; Duties
Section 16 - Adoption of By-Laws; Regulations Controlling Assignment and Transfer of Shares; Quorum
Section 17 - Stockholder Voting; Votes by Proxy
Section 18 - Board of Directors of Co-Operative Bank; Executive Committee
Section 19 - Election of Officers
Section 20 - Action Without Meeting
Section 21 - Cooperative Banks Employees Retirement Association
Section 22 - By-Laws of Cooperative Banks Employees Retirement Association
Section 24 - Co-Operative Banks Employees Benefit Association
Section 25 - By-Laws of Co-Operative Banks Employees Benefit Association