2474 ARTICLE 77.

1920, ch. 509, sec. 4.

96. The teachers who desire to become members of the retirement
association shall, as soon as may be after August 1, 1920, adopt such
form of organization for said association as shall be prescribed by the
State Superintendent of Schools, the State Treasurer, and the Insurance
Commissioner; and thereafter such organization shall be maintained for
the purposes herein contemplated, with such modifications thereof as may
be adopted from time to time by the members of the association with the
approval of the retirement board.

1920, ch. 509, sec. 5.

97. The administration of the retirement system hereby established
is hereby vested in a board to be known as the teachers' retirement board,
herein called the retirement board, consisting of six members, as follows:
The State Superintendent of Schools, the State Treasurer, the Insurance
Commissioner and three members of the retirement association. Upon the
organization of said association the members thereof shall elect from
among their number, in a manner to be approved by the State Superin-
tendent of Schools, the State Treasurer and the Insurance Commissioner,
three persons to serve upon the retirement board, one member to serve for
one year and one for two years, and one for three years; and thereafter
the members of the retirement association shall elect annually from among
their number, in a manner to be approved by the retirement board, one
person to serve on said board for the term of three years.

Until the organization of the retirement association and the election of
three representatives therefrom to membership on the retirement board,
the State Superintendent of Schools, the State Treasurer, and the Insur-
ance Commissioner shall be empowered to perform all the duties of said
board.

When a vacancy occurs in the retirement board by reason of death,
resignation, or inability to serve of one of the members chosen by the re-
tirement association such vacancy shall be filled for the unexpired term
by the election of a new member of said association, at a meeting duly
called for that purpose.

The members of the retirement board shall serve without compensa-
tion, but they shall be reimbursed for all necessary expenses which they
may sustain through their service on the board. All claims for such reim-
bursement shall be subject to the approval of the State Auditor of Accounts.

1920, ch. 509, sec. 6.

98. The retirement board shall provide for the payment of retirement
allowances and such other expenditures as are prescribed by this sub-title,
and shall perform such other functions hereof; and to that end said Board
shall make by-laws and regulations not inconsistent with the provisions
of this sub-title, shall employ a secretary, whose duty it shall be to keep
a record of all of its proceedings, and shall provide such other clerical
assistance as may be necessary for the discharge of the duties prescribed
hereunder.