Section 283. 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 trustees of mutual savings banks, either
  of which shall  be  approved  by  the  superintendent  of  banks,  which
  corporate  trustee  or  board of trustees are hereinafter referred to as
  the trustee.  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 at any meeting, provided  a  quorum  be  present,
  shall  be  determinative  and  any  action taken pursuant thereto be the
  action of the trustee.