Okla. Admin. Code § 85:10-5-5

Current through Vol. 42, No. 6, December 2, 2024

Section 85:10-5-5 - Review and appointments

Review and Appointments of the following items shall be made by the board of directors at least annually.

(1) A review and approval of the internal control audit program, lending policy and asset/liability management policy and their implementation for the previous year.

(2) A review and approval of the institution's blanket bond and all other insurance coverages.

(3) Elect officers and appoint committees for the coming year as designated by the bylaws.

(4) Designate the officers and/or employees with authority to sign official checks of the bank or trust company, to include any dollar limitations or two signatures required stipulations.

(5) Review the report per Subchapter 7 of this Chapter, "Director's Examination". Follow up on the disposition of any differences or recommendations and submit a copy of the report to the Commissioner within the time prescribed in Subchapter 7 of this Chapter.

Okla. Admin. Code § 85:10-5-5

Amended at 15 Ok Reg 2952, eff 7-15-98; Amended at 25 Ok Reg 1064, eff 5-25-08