12 C.F.R. § 7.2009 Quorum of the board of directors; proxies not permissible.
Title 12 - Banks and Banking
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.
Title 12: Banks and Banking
PART 7—BANK ACTIVITIES AND OPERATIONS
Subpart B—Corporate Practices
§ 7.2009 Quorum of the board of directors; proxies not permissible.
