12-5904.   Same; composition of board; open meetings;conflict of interest; suits.(a) The board shall select annually, from its membership, achairperson, a vice-chairperson and a treasurer. The treasurer shall bebondedin such amounts as the governing body may require.

      (b)   The board may appoint such officers, agents and employees as it mayrequire for the performance of its duties, and shall determine thequalifications and duties and fix the compensation of such officers, agents andemployees.

      (c)   The board shall fix the time and place at which its meetings shall beheld.Meetings shall be held within the city and shall be subject to the provisionof K.S.A. 75-4317 etseq., and amendments thereto.

      (d)   A majority of the board shall constitute a quorum for the transaction ofbusiness. No action of the board shall be binding unless taken at a meeting atwhich at least a quorum is present.

      (e)   The members of the board shall be subject to the provisions of the lawsof the state of Kansas which relate to conflicts of interest of county officersand employees, including, but not limited to, K.S.A. 75-4301 et seq.,andamendments thereto.

      (f)   Subject to the provisions of K.S.A. 75-6101 et seq., andamendments thereto, if any action at law or equity, or other legal proceeding,shall be brought against any member of the board for any act or omissionarising out of the performance of duties as a member of the board, such membershall be indemnified in whole and held harmless by the board for any judgmentor decree entered against such member and, further, shall be defended at thecost and expense of the bank in any such proceeding.

      History:   L. 2009, ch. 120, § 4; July 1.