7-35-2144. Vesting of funds in trustees. Upon the election, appointment, and qualification, as provided in this part, of the trustees of such fund, all of the title to the funds included in said trust and all of the rights, powers, authorities, franchises, and trusts of whatsoever thereunto appertaining shall at once vest in him or them. In case of the failure of any of those so chosen and appointed to qualify within 30 days after their appointment, then the same shall vest in the one or more who shall qualify.

     History: En. Sec. 2, Ch. 165, L. 1955; R.C.M. 1947, 9-217(part).