§ 3-408. Attendance at board meetings

Latest version.

   (a) Attendance required. -- Each director of a commercial bank shall attend at least one half of the regularly scheduled board meetings that are held during the director's term of office.

(b) Disqualification for additional terms. --

   (1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.

   (2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.

HISTORY: CA § 6-152; 1980, ch. 33, § 2; 1996, ch. 326, § 2.

                    
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