Official communications. Each official communication directed by the Commissioner or any examiner of financial institutions to any bank, or to any officer or manager thereof, relating to an examination or investigation conducted or made by the Commissioner or containing suggestions or recommendations as to the conduct of the bank must, if required by the authority directing it, be submitted by the officer, manager or director receiving it to the executive committee, if there is one, or board of directors or the other managers of the bank and noted in the minutes of the meeting. The receipt and submission of the notice to the executive committee, board of directors, or other managers must be certified to the Commissioner, within such time as he may require, by three members of the committee or board or two other managers.
Last modified: February 26, 2006