Quorum of a national bank board of directors; proxies not permissible.

CFR · 2024-01-01 · US · Title 12

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.

official document · source cfr-2024 · id 12:§ 7.2009