The officers of the Town of Shallotte shall consist of a mayor and five (5) commissioners [aldermen] and the present mayor and commissioners [aldermen] shall continue to hold office until their successors are elected on the first Tuesday after the first Monday in May, 1947, and have qualified. The town commissioners [aldermen] may impose the duties of town treasurer upon one of its own members and pay such member a salary of five dollars ($5.00) per month for performing the duties of treasurer.
(S.L. 1947, c. 507, Sec. 1)