Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-194.15 Meetings of board of directors

§ 6.1-194.15. Meetings of board of directors

The board of directors of every state association 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 or members, by bylaw, may fix any number as a quorum. The Commission may allow less frequent meetings, but not less than quarterly.

(Code 1950, §§ 6-201.35, 6.1-165, 6.1-195.42; 1960, c. 402; 1966, c. 584; 1972, c. 796; 1985, c. 425.)

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Last modified: April 2, 2009