Montana Code 32-1-325. Selection of officers and employees — minutes of meetings
32-1-325. Selection of officers and employees — minutes of meetings. (1) The board of directors of a bank shall hold a meeting at least quarterly.
Terms Used In Montana Code 32-1-325
- bank: as used in this chapter means any corporation that has been incorporated to conduct the business of receiving money on deposit or transacting a trust or investment business, as defined in this chapter. See Montana Code 32-1-102
- Department: means the department of administration provided for in Title 2, chapter 15, part 10. See Montana Code 32-1-109
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
(2)The board of directors may elect a president, one or more vice-presidents, a cashier or treasurer, one or more assistant cashiers or treasurers, and other officers and employees that they may from time to time consider to be to the best interest of the bank and fix their compensation. The president must be chosen from the board of directors. Each bank shall file a list of the officers and directors of the bank with the department by July 31 of each year.
(3)The board of directors shall keep a correct report of the meetings of the board and of the stockholders. The minutes must disclose the dates of the meetings and the names of the directors or stockholders present. This record of the meetings of the board of directors must be signed, manually or electronically, by the presiding officer and the person responsible for preparing the minutes. The minutes must be read and approved at the following meeting of the board of directors, and the minutes of the following meeting must show that fact. The minutes must be available in the main office of the bank at all times and must be available to the department at the time of its examination of the books. A person who makes a material false entry in the record of the board meetings or who makes a material change or alteration of an entry made in the record is subject to removal pursuant to 32-1-468.