Sec. 5. Action may be taken by the board at a meeting by the affirmative vote of at least four (4) directors. A vacancy on the board does not impair the right of a quorum of directors to exercise the powers and perform the duties of the board.
As added by P.L.25-1984, SEC.1. Amended by P.L.38-1988, SEC.4.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.5. Indiana Bond Bank
Chapter 2. Establishment and Organization
5-1.5-2-1. Indiana Bond Bank; Establishment; Nature; Purpose
5-1.5-2-2. Board of Directors; Establishment; Powers; Membership; Appointment; Vacancy
5-1.5-2-5. Action by Affirmative Vote of Three Directors; Effect of Vacancy
5-1.5-2-6. Surety Bonds; Issuer; Cost
5-1.5-2-8. Liability on Bonds or Notes