Va. Code Ann. § 6.2-866
This is the official text of Va. Code Ann. § 6.2-866, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
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Meetings of board of directors
Official statutory text
The board of directors of every bank shall hold meetings at least once in each calendar month. At each meeting of the board, a majority of the whole board shall be necessary for the lawful transaction of business. Notwithstanding the foregoing, (i) the shareholders, by bylaw, may fix any number not less than a majority as a quorum and (ii) the Commission may allow less frequent meetings, but not less often than quarterly.
Code 1950, § 6-43; 1966, c. 584, § 6.1-52; 1981, c. 203; 2010, c. 794 ; 2019, cc. 242 , 244 .
Code 1950, § 6-43; 1966, c. 584, § 6.1-52; 1981, c. 203; 2010, c. 794 ; 2019, cc. 242 , 244 .
Status: in_force · Read it on the official government site
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