Va. Code § 6.2-866

Current with changes from the 2024 legislative session through ch. 845

Section 6.2-866 - Meetings of board of directors

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.

Va. Code § 6.2-866

Code 1950, § 6-43; 1966, c. 584, § 6.1-52; 1981, c. 203; 2010, c. 794; 2019, cc. 242, 244.

Amended by Acts 2019 c. 242, § 1, eff. 7/1/2019.