(a) The board of directors of a trust company shall meet at least once every three months. The department or a director may call a special meeting of the board. A majority of the board constitutes a quorum. The board shall keep minutes of each board meeting, including a record of attendance and a record of all votes.
(b) At least once every three months, the board of directors of a trust company shall review written reports prepared by the president, other officers of the trust company, or a trust committee appointed under AS 06.26.550 . The reports must include the accounts that have been opened or closed during the calendar quarter before the meeting and the trust accounts subject to annual review during the calendar quarter before the meeting.
Section: Previous 06.26.500 06.26.510 06.26.520 06.26.530 06.26.540 06.26.550 06.26.560 06.26.570 06.26.580 06.26.585 06.26.590 06.26.600 06.26.610 06.26.620 06.26.630 NextLast modified: November 15, 2016