12 C.F.R. § 7.2009

Current through October 31, 2024

Section 7.2009 - Quorum of a national bank board of directors; proxies not permissible

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.

12 C.F.R. §7.2009

61 FR 4862, Feb. 9, 1996, as amended at 85 FR 83735 , Dec. 22, 2020

85 FR 83735 , 4/1/2021