Section 383-A:5-503 – Notice of Election.
383-A:5-503 Notice of Election. – Within 30 days after the acceptance by a director of a state bank or credit union of his or her election or appointment, the state bank or credit union shall notify the commissioner of the name and residence address of the director who was elected or appointed. Source. 2015, […]
Section 383-A:5-504 – Officers.
383-A:5-504 Officers. – The board of directors of a state bank or credit union shall elect or appoint a president, a treasurer, a secretary, and the other officers as prescribed in its organizational documents. The officers shall be elected or appointed no less frequently than once every 3 years and shall hold office subject […]
Section 383-A:5-505 – Responsibilities of Directors and Officers of State Banks.
383-A:5-505 Responsibilities of Directors and Officers of State Banks. – (a) All of a state bank’s powers shall be exercised by or under the authority of its board of directors, and the business and affairs of the state bank shall be managed by or under the direction, and subject to the oversight, of its […]
Section 383-A:5-506 – Committees.
383-A:5-506 Committees. – (a) Subject to its oversight and any limitation set forth in the organizational documents, the board of directors of a state bank may create one or more committees, delegate to each committee any powers and duties that the board of directors deems appropriate, and appoint one or more directors, officers, and […]
Section 383-A:5-507 – Meetings; Records.
383-A:5-507 Meetings; Records. – (a) The board of directors of a state bank or credit union shall meet on a regular basis as often as necessary but not less than the minimum number of meetings required by applicable law. (b) Minutes of each meeting shall be kept, showing the names of the directors who […]
Section 383-A:5-508 – Action Without Meeting.
383-A:5-508 Action Without Meeting. – Unless the organizational documents of a state bank or credit union provide otherwise, any action to be taken at a meeting of the board of directors or committee may be taken without a meeting under and consistent with any provision of the applicable Organizations Act permitting the action. Source. […]
Section 383-A:5-509 – Annual Audits; Reports.
383-A:5-509 Annual Audits; Reports. – (a) The board of directors of a state bank or credit union shall engage a certified public accountant, at least annually, to serve as its auditor and to perform an annual audit. Each state bank or credit union shall give notice to the commissioner of its engagement of an […]
Section 383-A:5-510 – Reports of Condition.
383-A:5-510 Reports of Condition. – (a) Each calendar year, each state bank or credit union shall balance its books at the close of business on the last business day in December and, within 30 calendar days thereafter, shall file with the commissioner an annual report. The annual report shall be signed by an authorized […]
Section 383-A:5-511 – Copies of Reports and Notices.
383-A:5-511 Copies of Reports and Notices. – (a) A state bank or credit union shall provide the commissioner with a copy of all reports filed with any other regulatory authority at the time the report is filed. (b) A state bank or credit union shall file with the commissioner notice of the filing of […]
Section 383-A:5-511-a – Financial Exploitation of Vulnerable Adults.
383-A:5-511-a Financial Exploitation of Vulnerable Adults. – I. For the purposes of this section, the following words shall have the following meaning unless the context clearly indicates otherwise: (a) " Eligible adult " shall mean: (i) A person 65 years of age or older; or (ii) A person, 18 years of age or older, […]