§ 7010. Place and time of meetings of the board. 1. Meetings, regular or special, of the board may be held at any place within or without this state, unless otherwise provided by the organization certificate or the by-laws.

Terms Used In N.Y. Banking Law 7010

  • board: means "board of directors". See N.Y. Banking Law 1001
  • Organization certificate: includes (a) the original organization certificate or any other instrument filed or issued under any statute to form a corporation or foreign corporation, as amended, supplemented or restated by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute; or (b) a special act or charter creating a corporation or foreign corporation, as amended, supplemented or restated by special acts or by certificates of amendment, merger or consolidation or other certificates or instruments filed or issued under any statute. See N.Y. Banking Law 1001

2. The board of every bank and trust company, stock-form savings bank, and stock-form savings and loan association shall, after their due qualification, hold an annual meeting for the election of officers within twenty-five days after the annual meeting of stockholders. The board of every such corporation shall hold a regular monthly meeting at least ten times a year provided, however, that during any three consecutive calendar months the board shall meet at least twice. The executive committee shall meet at least once in each thirty day period during which the board does not meet.

3. Subject to subdivisions one and two, the time and place for holding meetings of the board may be fixed by or under the by-laws, or, if not so fixed, by the board.

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