§ 490-b. Management of fund. The fund shall be collected, held,
administered and disbursed by a corporate trustee or a board of trustees
composed of individuals who are directors or members of a supervisory
committee of credit unions. The appointment of a corporate trustee or a
board of trustees, as the case may be, shall be subject to the approval
of the superintendent. In the event there be a board of individual
trustees, a majority of them at any time in office, shall constitute a
quorum and the vote of a majority present at any meeting, provided a
quorum is present, shall be determinative.