GroundRules
12 CFR 7.2009: Quorum of a national bank board of directors; proxies not permissible.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY
- PART 7—ACTIVITIES AND OPERATIONS
- Subpart B—Corporate Practices
A national bank must provide in its articles of association or bylaws that for the transaction of business, a quorum of the board of directors is at least a majority of the entire board then in office. A national bank director may not vote by proxy.
Collected 2026-08-27T02:24:16Z. Source file · JSON