[§87A-11]  Quorum; board actions; voting.  (a)  Six trustees, three of whom represent the public employer and three of whom represent employee-beneficiaries, shall constitute a quorum for the transaction of business.

     (b)  Trustees representing the public employers shall collectively have one vote.  Trustees representing the employee-beneficiaries shall collectively have one vote.

     For any vote of the trustees representing the public employers to be valid, three of these trustees must concur to cast such a vote.  In the absence of such concurrence, the trustees representing the public employers shall be deemed to have abstained from voting.

     For any vote of the trustees representing the employee-beneficiaries to be valid, three of these trustees must concur to cast such a vote.  In the absence of such concurrence, the trustees representing the employee-beneficiaries shall be deemed to have abstained from voting.

     An abstention shall not be counted as either a vote in favor or against a matter before the board.

     (c)  Any action taken by the board shall be by the concurrence of at least two votes.  In the event of a tie vote on any motion, the motion shall fail.  Upon the concurrence of six trustees, the board shall participate in dispute resolution. [L 2001, c 88, pt of §1]