N.Y. Railroad Law § 302: Certain directors to be local residents

§ 302. Certain directors to be local residents. The certificate of

incorporation of any corporation qualifying hereunder shall provide

that, during the period of its existence as a railroad redevelopment

corporation, one-third of the members of its board of directors shall be

residents of the counties served by such corporation and shall be

otherwise unaffiliated, directly or indirectly, with such corporation or

any stockholder thereof; and that the individuals who are elected

initially as such directors shall continue to serve throughout such

period, except that, in the event any of them shall die, resign, or

become incapable of performing the duties of a director, a successor or

successors shall be named by the remaining such directors.