§ 45-2-404. Authority to Declare Dividends
The board of directors of a state bank may not declare dividends in any calendar year that exceeds the total of its net income of that year combined with its retained net income of the preceding two (2) years without the prior approval of the commissioner.
§ 45-2-405. Government Service
Notwithstanding any law to the contrary, any officer, director, or employee of any bank may serve in any capacity in state or local government, except in any capacity with the department, or on any board, commission, or other agency of the governmental unit; provided, that the officer, director or employee has: Disclosed to the chief […]
§ 45-2-403. Fidelity Bonds and Other Insurance — Special Reserve Fund
The directors of a state bank shall direct and require good and sufficient fidelity bonds on all active officers and employees, whether or not they draw salary or compensation, which bonds shall provide for indemnity to the bank on account of any losses sustained by it as the result of any dishonest, fraudulent or criminal […]
§ 45-2-401. Directors and Officers — Qualifications of Directors — Election — Terms
The affairs of a state bank must be managed by a board of directors, which shall exercise its powers and be responsible for the discharge of its duties. The charter or bylaws may establish a variable range for the size of the board of directors by fixing a minimum of not less than five (5) […]
§ 45-2-402. Directors — Meetings and Duties — Examinations and Reviews — Fiduciary Powers
The board of directors shall meet at least quarterly. The commissioner, one-third (1/3) of the directors, or any two (2) executive officers may call a special meeting. A majority of the board shall constitute a quorum. The board shall keep minutes of each meeting, including a record of attendance and of all votes cast by […]