SECTION 255:10-3-2. County equalization

(a)   Duty of Board. Pursuant to Title 68, Section 2463, "it shall be the duty of the Board to examine the various county assessments and to equalize, correct and adjust the same as between the counties by increasing or decreasing the aggregate assessed value of the property, or any class thereof, in any or all of them, to conform to the fair cash value thereof, and to order and direct the assessment rolls of any county in the State to be so corrected as to adjust and equalize the valuations of the real and personal property of the several counties."

(b)   County equalization meeting date. Pursuant to Title 68, Section 2463, the Board must hold a session at the Capitol of the State, commencing at ten o'clock (10:00) on the fourth (4th) Monday in June of each year for the purpose of equalizing the property of the several counties."

(c)   Requirement for official action. In the case of the absence or failure of said Chairman and Secretary, or either of them, to so act on the fourth Monday of June, any four or more members thereof shall proceed on said date to conduct the Board's session and carry on its work as herein required, provided, that any official action by said Board shall require approval by a majority of all members of the Board.