(A) The Clerk-Treasurer must reside within the town as provided in Article 6, Section 6 of the Constitution of the State of Indiana. The Clerk-Treasurer forfeits office if he ceases to be a resident of the town. An individual who resides in territory that is annexed by the town before the election is considered a resident of the town for purposes of this division (A), even if the annexation took effect less than one year before the election.
(B) Except as provided in I.C. 36-5-6-3(c) through (f), the term of office of the Clerk-Treasurer is four years, beginning at noon January 1 after election and continuing until a successor is elected and qualified.
(I.C. 36-5-6-3(a), (b)) (‘84 Code, § 31.41)