Section 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.