A majority of all authorized directors of a building and loan association is necessary to constitute a quorum for the transaction of business by its board of directors. Except as otherwise provided by law or in the constitution or bylaws of the association, the acts of a majority of the directors who are present, at a meeting at which a quorum is present, are the acts of the board.
Effective Date: 08-09-1963
Section: Previous 1151.08 1151.081 1151.09 1151.091 1151.10 1151.11 1151.12 1151.13 1151.14 1151.15 1151.151 1151.16 1151.17 1151.18 1151.19 NextLast modified: October 10, 2016