- § 7-1-480 - Board of Directors
(a) Administration of the business and affairs of a bank or trust company shall be the responsibility of a board of directors.(b) Seventy-five percent...
- § 7-1-481 - Adopting, Amending, and Repealing Bylaws
The board of directors shall have the power to adopt, amend, or repeal bylaws as specified in paragraph (4) of Code Section 7-1-260 unless...
- § 7-1-482 - Number, Term, and Compensation of Directors; Effect of Failure to Maintain At Least Five Directors
(a) The articles or bylaws of any bank or trust company may fix the number of directors of its policy-making board at not less...
- § 7-1-483 - Meetings of Board; Quorum; Committees; Acting Without Meeting
(a) The board of directors shall hold regular meetings at such times as may be fixed by the bylaws and shall at all times...
- § 7-1-484 - Oath of Directors; Liability of Persons Who Have Not Subscribed to Such Oath
(a) Each director, before assuming office, shall take an oath or affirmation that he will diligently and honestly perform his duties in the administration...
- § 7-1-485 - Removal of Directors; Vacancies
(a) The entire board of directors or an individual director may be removed without cause by the vote of shareholders entitled to cast at...
- § 7-1-486 - Honorary and Advisory Positions
The board of directors of any bank or trust company may appoint an individual as an honorary director or director emeritus or member of...
- § 7-1-487 - Audits and Financial Reports
(a) The board of directors shall at least once each year have made by independent certified public accountants an audit of the books and...
- § 7-1-488 - Officers, Agents, and Employees; Employee Share Plans
(a) A bank or trust company shall have a president, a secretary, and such other officers as the directors may from time to time...
- § 7-1-489 - Fidelity Bonds
Any director who is authorized to handle money or negotiable assets on behalf of a bank or trust company and all officers and employees...
- § 7-1-490 - Responsibility of Directors and Officers; Delegation of Investment Decisions
(a) Directors and officers of a bank or trust company shall discharge the duties of their respective positions in good faith and with that...
- § 7-1-491 - Financing Involving Directors or Officers
In addition to other provisions in this chapter and federal law, a bank or trust company shall not make loans or otherwise extend financing...
- § 7-1-492 - Prohibitions Applicable to Directors, Officers, and Employees
(a) No director, officer, or employee of a bank or trust company shall: (1) Receive anything of value for procuring or attempting to procure...
- § 7-1-493 - Actions Against Directors and Officers
(a) An action may be brought by any of the persons named in subsection (b) of this Code section against one or more directors...
- § 7-1-494 - Liability of Directors in Certain Cases
(a) In addition to any other liabilities imposed by law upon directors of a bank or trust company: (1) Directors of a bank or...
Last modified: October 14, 2016