6-870. Trust committee
A. The board of directors may appoint a trust committee. The trust committee shall
be comprised solely of directors, officers, employees or any combination thereof. The
committee may be authorized to act for the company in matters dealing with the initial
and annual reviews of accounts, account acceptance and investment strategies. The trust
committee shall keep a record of its actions and shall report in writing to the board on
all actions since the previous board meeting. The board shall ratify or rescind each
action.
B. The trust committee shall meet at least once a month to review existing accounts
and to consider acceptance of new accounts. The trust committee shall not accept a new
account unless it is approved by a majority of the members of the trust committee present
at the meeting in which the new account is considered.
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