| (1) |
A quorum of the board of directors of each industrial bank shall meet at least once each quarter. |
Terms Used In Utah Code 7-8-19
- Bank: means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public. See Utah Code 7-1-103
- Industrial bank: means a corporation or limited liability company conducting the business of an industrial bank under Chapter 8, Industrial Banks. See Utah Code 7-1-103
- Quorum: The number of legislators that must be present to do business.
| (2) |
Minutes of each meeting of the board of directors shall be:
| (a) |
kept by the secretary of the industrial bank; and |
| (b) |
maintained at the head office of the industrial bank. |
|
Amended by Chapter 92, 2004 General Session
