_First_: The bankers of each district, excepting the district in which
the chairman resides, voting as prescribed in section four of this Act,
shall elect a banker who resides in their district as a member of the
board of control.
_Second_: The term of office shall be seven years, but the terms of the
members of the first board shall be for two, three, four, five, six
and seven years, respectively, and the six members so elected shall
determine by lot how long each shall serve.