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Code · New Jersey · Title 52 — Savings and Loan Associations [Repealed] · Chapter 9X

52:9X-5 Terms; removal, suspension.

224 words·~1 min read·/nj/title-52/chapter-9x/52-9x-5·

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5. a. The terms of the public members of the commission appointed by the Governor shall be for five years or until their successors are appointed, except that of the appointments first made to the commission under P.L.2018, c.91, two shall serve for three years or until their successors are appointed, three shall serve for four years or until their successors are appointed, and three shall serve for five years or until their successors are appointed. Any vacancy shall be filled in the same manner as the original appointment but only for the balance of the unexpired term.
The commission members shall serve without compensation but shall be reimbursed for necessary expenses incurred in the performance of their duties, within the limits of funds appropriated or otherwise made available to the commission for its purposes.
b. Each member appointed by the Governor may be removed from office by the Governor, for cause, after a public hearing, and may be suspended by the Governor pending the completion of the hearing. Each member, before entering upon the member's duties, shall take and subscribe an oath to perform the duties of the office faithfully, impartially, and justly to the best of the member's ability. A record of these oaths shall be filed in the office of the Secretary of State.
L.1985, c.102, s.5; amended 2018, c.91, s.6.
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