§ 922. Chairman of pension board.  


Latest version.
  • The chairman of the pension board shall exercise the voting rights pertaining to any securities at any time held in the fund or otherwise consent to or request any action on the part of the issuer of such securities; he may give general or special proxies or powers of attorney with or without powers of substitution, and may participate in amalgamations, reorganizations, recapitalizations, consolidations, mergers, liquidations and similar transactions with respect to such securities and accept and hold any securities issued in connection therewith.

    Whenever the pension board has voted to approve an amendment to the laws governing the board, the chairman of the pension board or his designee shall attend the regular board of commissioners meetings at which the amendment is scheduled for adoption.

(Acts 1962, p. 3088, § 20; Ord. No. 10-08, Pt. I, 4-27-10)