Title 12
SECTION 7.2009
7.2009 Quorum of the board of directors; proxies not permissible.
§ 7.2009 Quorum of the board of directors; proxies not permissible. Link to an amendment published at 85 FR 83735, Dec. 22, 2020.A national bank shall 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.