Quorum of a national bank board of directors; proxies not permissible.

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3. Banks and Banking
4. Comptroller of the Currency, Department of the Treasury
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7. Quorum of a national bank board of directors; proxies not permissible.

§ 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.

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

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