12 C.F.R. § 611.340 Security in voting.
Title 12 - Banks and Banking
(a) Each bank and association must adopt policies and procedures that assure the security of all records and materials related to a stockholder vote including, but not limited to, ballots, proxy ballots, and other related materials. (b) Bank and association procedures must assure that ballots and proxy ballots are provided only to stockholders who are eligible to vote. (c) Ballots and proxy ballots must be safeguarded before the time of distribution or mailing to voting stockholders and after the time of receipt by the bank or association until disposal. In an election of directors, ballots, proxy ballots and election records must be retained at least until the end of the term of office of the director. In other stockholder votes, ballots, proxy ballots, and records must be retained for at least 3 years after the vote. (d) The voting procedures of each institution must provide for the establishment of a tellers committee or other designated group of persons which must be responsible for validating ballots and proxies and tabulating voting results. An institution and its officers, directors, and employees may not make any public announcement of the results of a stockholder vote before the tellers committee or other designated persons have validated the results of the vote. [53 FR 50392, Dec. 15, 1988, as amended at 63 FR 64843, Nov. 24, 1998]
Title 12: Banks and Banking
PART 611—ORGANIZATION
Subpart C—Election of Directors and Other Voting Procedures
§ 611.340 Security in voting.
