17:35-7.Ā  Directors or trustees The corporation shall have a board of not less than five directors or trustees, a majority of whom shall be residents of this state, and who shall beĀ  elected by and from the members at the time and place, and for such period, notĀ  exceeding three years, as the by-laws provide.Ā  They shall have and exerciseĀ  the general control and management of its affairs and funds.
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