6.1-194.118 - (Repealed effective October 1, 2010) Meetings of board of directors. - Virginia Statutes

§ 6.1-194.118. (Repealed effective October 1, 2010) Meetings of board ofdirectors.

The board of directors of every state savings bank shall hold meetings atleast once in every calendar month, at which meeting a majority of the wholeboard shall be necessary for the lawful transaction of business, except thatthe stockholders, by bylaw, may fix any number not less than five as aquorum. The Commission may allow less frequent meetings, but not less thanquarterly.

(1991, c. 230.)