Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-194.118 Meetings of board of directors

§ 6.1-194.118. Meetings of board of directors

The board of directors of every state savings bank shall hold meetings at least once in every calendar month, at which meeting a majority of the whole board shall be necessary for the lawful transaction of business, except that the stockholders, by bylaw, may fix any number not less than five as a quorum. The Commission may allow less frequent meetings, but not less than quarterly.

(1991, c. 230.)

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Last modified: April 2, 2009