51A-3-30. Adoption and approval of bylaws.
71 words·~1 min read·
/sd/title-51/chapter-51-3/51a-3-30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every bank shall adopt a code of bylaws before being authorized to commence business. Bylaws, as well as all amendments or additions thereto, so adopted shall be effective only after they have been approved by the director. After their adoption and approval they shall be spread at length upon the minute book of the bank and be subject to such rights of inspection as exist for other corporate books and records.