N.J. Stat. § 17:9A-112: Officers; tenure; removal

Subject to removal by the board of directors at its pleasure, or by the commissioner pursuant to section 249, each officer shall hold office from the time of his election or appointment until the first meeting of the board of directors, following the next annual meeting of stockholders, at which officers are elected or appointed.

L.1948, c. 67, p. 273, s. 112.