New York Laws
Article 10 - Savings and Loan Associations
398-C - Executive Committee and Other Committees.

(a) The submission to shareholders of any action that needs
shareholders' authorization under this chapter;
(b) The filling of vacancies in the board of directors or in any such
committee;
(c) The fixing of compensation of the directors for serving on the
board or on any committee;
(d) The amendment or repeal of the by-laws, or the adoption of new
by-laws;
(e) The amendment or repeal of any resolution of the board which by
its terms shall not be so amendable or repealable;
(f) The taking of action which is expressly required by any provision
of this chapter to be taken at a meeting of the board or by a specified
proportion of the directors.
2. Each such committee shall serve at the pleasure of the board. The
designation or appointment of, or making of provision for, any such
committee and the delegation thereto of authority shall not alone
relieve any director of his duty to the association under any provision
of this chapter.
3. Minutes shall be kept of each meeting of each such committee and
records shall be kept of all action taken in exercise of the authority
or in performance of the function of each such committee. Such minutes
and records shall be submitted to the board of directors and shall be
filed with the records of the association.

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