6.1-52 - (Repealed effective October 1, 2010) Meetings of board of directors.
§ 6.1-52. (Repealed effective October 1, 2010) Meetings of board of directors.
The board of directors of every bank shall hold meetings at least once ineach calendar month, at which meeting a majority of the whole board shall benecessary for the lawful transaction of business, except that thestockholders, by bylaw, may fix any number not less than five as a quorum,provided that the Commission may allow less frequent meetings, but not lessoften than quarterly.
(Code 1950, § 6-43; 1966, c. 584; 1981, c. 203.)