Title 12

SECTION 7.2009

7.2009 Quorum of the board of directors; proxies not permissible.

§ 7.2009 Quorum of the board of directors; proxies not permissible. Link to an amendment published at 85 FR 83735, Dec. 22, 2020.

A national bank shall 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.

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