S.D. Admin. R. 20:07:03:18.01

Current through Register Vol. 50, page 162, June 24, 2024

Section 20:07:03:18.01 - Number and frequency of board meetings - Exception

A bank must establish through its bylaws that its board of directors hold meetings in a timely manner as is prudent, but not less than four meetings annually. The director, at the director's discretion, may require the bank to hold meetings of its board of directors more frequently than is provided for in its bylaws.

S.D. Admin. R. 20:07:03:18.01

16 SDR 102, effective 12/21/1989; 25 SDR 72, effective 11/19/1998.

General Authority: SDCL 51A-2-13, 51A-3-34.

Law Implemented: SDCL 51A-3-34.