Sec. 3. (a) The initial terms of a board of governors are as follows:
(1) One-third (1/3) of the members, as near as may be, shall be appointed for terms of one (1) year.
(2) One-third (1/3) of the members, shall be appointed for terms of two (2) years.
(3) One-third (1/3) of the members, shall be appointed for terms of three (3) years.
(b) All subsequent terms are for three (3) years.
[Pre-1993 Recodification Citation: 16-12.2-8-1(b) part.]
As added by P.L.2-1993, SEC.6.