Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately remove the age restrictions limiting the service of corporators of savings banks and members of the board of directors of credit unions, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Section 9 of chapter 168 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out the second sentence and inserting in place thereof the following sentence:- Corporators shall be elected for a term of ten years.
SECTION 2. Section 14 of chapter 171 of the General Laws, as so appearing, is hereby amended by striking out the fifth sentence and inserting in place thereof the following sentence:- Directors shall be elected for not less than one nor more than three years, as the by-laws shall provide.