Code of Federal Regulations · Section
§ 7.2009 — Quorum Of A National Bank Board Of Directors; Proxies Not Permissible
12 C.F.R. § 7.2009
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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.
Authorizing Statute
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Office of the Comptroller of the Currency12 U.S.C. § 1