§ 7.2009. Quorum of a national bank board of directors; proxies not permissible.
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/us/cfr/t12/s§ 7.2009·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A national bank must provide in its articles of association or bylaws that for the transaction of business, a quorum of the board of directors is at least a majority of the entire board then in office. A national bank director may not vote by proxy. [61 FR 4862, Feb. 9, 1996, as amended at 85 FR 83735, Dec. 22, 2020]
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§ 7.2009
Quorum of a national bank board of directors; proxies not permissible.
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