N.Y. Banking Law § 7013: Officers

§ 7013. Officers. 1. The board of every corporation, at the annual

meeting of such board following each annual meeting of stockholders,

shall elect a president (who, in the case of a bank or trust company,

stock-form savings bank, or stock-form savings and loan association,

shall be from its own number) and shall also elect one or more vice

presidents and such other officers as are required by the by-laws to be

elected annually. It may from time to time fill vacancies in the offices

of any officers so elected, and elect or appoint such other officers as

it may determine or as may be provided in the by-laws. Where a

corporation shall elect a chief executive officer in lieu of a

president, whose duties and functions are substantially the same as

those of a president, such chief executive officer shall be deemed to be

a president for purposes of this chapter.

2. Each officer shall hold office for the term for which he is elected

or appointed, and until his successor has been elected or appointed and

qualified.

3. Any two or more offices may be held by the same person, except the

offices of president and secretary.

4. The board may require any officer to give security for the faithful

performance of his duties.

5. All officers as between themselves and the corporation shall have

such authority and perform such duties in the management of the

corporation as may be provided in the by-laws or, to the extent not so

provided, by the board.