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Any county, city, or town in this Commonwealth having a police department may establish, in the manner hereinafter provided, a board to be known as the "police officers' pension and retirement board." The board shall be a body corporate and consist of five members. One member shall be the treasurer of the county, city, or town and shall also be the treasurer of the board. Two members shall be elected by the majority vote of the members of the police department, one for a term of four years and one for a term of two years, and all successors in office of the one elected for two years shall be elected for terms of four years. Two members shall be appointed by the governing body for terms of four years. When any board is established, it shall, at its first meeting and annually thereafter, elect one of the members as president and one as secretary. The board may also elect a vice-president. 1940, p. 737; Michie Code 1942, § 3035d; Code 1950, § 51-115; 1990, c. 832.
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