N.Y. Cooperative Corporations Law § 60: Directors; terms; election; duties

§ 60. Directors; terms; election; duties. Except as otherwise provided

in this chapter, the board of directors shall be divided, as nearly

equally as practicable, into three classes. At the first annual meeting,

the members shall elect from among themselves a director or directors of

the first class for a term of one year; of the second class for a term

of two years; and of the third class for a term of three years. At the

expiration of the respective terms, successors shall be elected for

terms of three years. Successor directors of corporations to which this

chapter applies, which were formed under the stock corporation law prior

to January first, nineteen hundred fifty-four, need not be members.