Or. Admin. Code § 441-505-2000 - Regular Meetings of Banking Institution Board of Directors
(1) For purposes of
this rule:
(a) "Regular meeting" means a
meeting established by the banking institution's bylaws or by board resolution
that fix the time, date and location of the meeting on a re-occurring
basis.
(b) "Special meeting" means
a meeting not held on a re-occurring basis and under notice given to the board
of directors consistent with the banking institution's articles of
incorporation or the bylaws.
(2) The board of directors of a banking
institution shall hold a minimum of four regular meetings during each calendar
year. No more than 100 days shall pass between any two regular
meetings.
(3) Notwithstanding
section (2) of this rule, if the director reasonably believes that the
condition of a banking institution warrants additional regular meetings, the
director may require the banking institution to hold regular board meetings at
a frequency to be determined by the director. The director may also require the
institution's board of directors to convene special meetings as necessary.
Notes
Stat. Auth.: ORS 707.670
Stats. Implemented: ORS 707.670
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