Texas Finance Code - Section 33.105. Required Monthly Board Meeting
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§ 33.105. REQUIRED MONTHLY BOARD MEETING. (a) The board
of a state bank shall hold at least one regular meeting each month.
At each regular meeting the board shall review and approve the
minutes of the prior meeting and review the operations, activities,
and financial condition of the bank. The board may designate a
committee from among its members to perform those duties and
approve or disapprove the committee's report at each regular
meeting. Each action of the board must be recorded in its minutes.
(b) Periodically the board may vote to designate and record
in its minutes the amount of certified surplus. Except to absorb
losses in excess of undivided profits and uncertified surplus,
certified surplus may not be reduced without the prior written
approval of the banking commissioner.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 33.005 33.006 33.007 33.101 33.102 33.103 33.104 33.105 33.106 33.107 33.108 33.109 33.201 33.202 33.203
Last modified: August 10, 2007
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