Section 384:7 Meetings; Records. - New Hampshire Statutes

The trustees or directors shall meet on a regular basis as often as necessary but not less than 9 times per year, except that the directors of a nondepository trust company that has a composite rating of at least 2 as a result of the most recent examination by the bank commissioner, shall meet on a regular basis as often as necessary but not less than 4 times per year. At such meetings the work for the preceding period of the investment committee, and of all other committees appointed by the trustees or directors, shall be submitted to the board for examination. A record of the meeting shall be kept, showing the names of the trustees or directors present. A majority of the board of trustees or directors shall be a quorum for the transaction of business. The board of trustees or directors shall adopt a policy providing standards for determining the number of absences by a director or trustee from meetings of the board or the committees which shall result in a declaration of dereliction of duty by the board and its removal of the director or trustee from office.

Source. 1895, 105:2. PL 260:6. RL 308:7. 1998, 139:7. 2003, 122:1, eff. Aug. 11, 2003.