12 CFR 7.2004 – Honorary national bank directors or advisory boards
Current as of: 2024 | Check for updates
|
Other versions
A national bank may appoint honorary or advisory members of a board of directors to act in advisory capacities without voting power or power of final decision in matters concerning the business of the bank. Any listing of honorary or advisory directors must distinguish between them and the bank’s board of directors or indicate their advisory status.
Terms Used In 12 CFR 7.2004
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC