§ 11-50-104. Organization of Board of Trustees - Chairman - Secretary - Annual financial report.

As soon as any Board of Trustees has its personnel completed, as provided by this article, it shall meet and choose a Chairman and Secretary from the members of the Board, who shall serve for a term of one (1) year or until their successors are elected.  One year from the date of the first organization meeting, and each year thereafter, the Board shall elect a Chairman and Secretary from its members.  In the event any Chairman or Secretary ceases to be a member of the Board, the Board shall elect from its members a Chairman or Secretary to serve the unexpired term of the respective officer whose membership on the Board is terminated.  The Secretary shall report annually, at the time of the election of officers of the Board, the condition of the Police Pension and Retirement System, and the receipts and disbursements on account of the same with a full and complete list of the beneficiaries of funds in said system and the amount paid them.