32-1-909. Board of directors -- lack of quorum -- temporary board members. If at any time because of the suspension or removal of one or more board members pursuant to this part the board of directors of an institution has less than a quorum of board members not so suspended or removed, all powers and functions vested in or exercisable by the board shall vest in and be exercisable by the board members not so suspended or removed until such time as there is a quorum of the board members. If all of the board members have been suspended or removed, the director shall appoint persons to serve temporarily as board members, pending the termination of the suspensions or removals or until such time as their successors are duly elected and take office.
History: En. Sec. 9, Ch. 76, L. 1979.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 1. Banks and Trust Companies
Part 9. Removal of Directors or Officers of Financial Institutions
32-1-902. Notice of charges -- hearing -- cease and desist order -- effective date
32-1-903. Informal conferences -- time for application
32-1-906. Informal conferences -- time for application
32-1-907. Suspension or prohibition effective upon service -- stay
32-1-908. Felony charges -- suspension or prohibition
32-1-909. Board of directors -- lack of quorum -- temporary board members
32-1-910. Hearings -- decision -- review, modification, termination or stay of orders
32-1-911. Notices and orders -- manner of service -- copies to federal authorities
32-1-912. Enforcement of notices or orders