14-10a04.   Board of trustees for each fund; president and secretary;treasurer.The pension funds established under the provisions of this act shall beadministered as follows: Each fund shall be administered by a board oftrustees which shall consist of the mayor of said city, the chief officerof the department and three delegates-at-large from the department, to beelected by the officers and members thereof at an annual meeting to becalled by the chief officer of the department and held on the first Tuesdayof July of each year, whose term of office shall be for one year, one ofsaid boards shall be known as the "board of trustees of the firemen'spension fund," and the other as the "board of trustees of the policemen'spension fund." The board shall elect, from their members, a president andsecretary. The city treasurer shall be ex officio treasurer of said boards,and as such shall have charge of the funds and securities provided forherein. No member of the board of trustees or the treasurer shall receiveany compensation for services.

      History:   L. 1945, ch. 144, § 4; July 1.