Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, the town of Plymouth may establish by by-law a board of commissioners of trust funds, consisting of 3 members appointed by the board of selectmen of the town for 3 year overlapping terms. The initial appointments shall be made as follows: 1 member for a 1 year term, 1 member for a 2 year term and 1 member for a 3 year term. The board of commissioners of trust funds shall have those powers and duties of boards of commissioners set forth in the General Laws and shall be subject to the town charter applicable to boards, commissions and multiple member bodies.
The by-law authorized by this section may be amended by vote of the town, subject to the General Laws.
SECTION 2. This act shall take effect upon its passage.