6-185. Board of directors' meetings; review;
report of failure of quorum to meet
A meeting of the board of directors of a bank shall be called each month or each
quarter. The superintendent shall designate for each bank whether the board shall meet
monthly or quarterly. The superintendent may change the designation at any time without
providing the bank advanced notice. At the meetings, the board shall review the loans
and investments and other material activities of the bank or review a report thereof
prepared under the direction of the board as a regular item of business. The board shall
keep minutes of all meetings including a record of attendance. If at any required
meeting a majority of the members are not present, the bank shall notify the
superintendent in writing of that fact.
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