New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter A - BANKING ORGANIZATIONS
Part 306 - Corporate Governance Vacancies On The Board Of Directors
Section 306.1 - Explanatory note regarding vacancies on the board of directors
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 306.1
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Subdivision 1 paragraph (b) of section 7005 of the Banking Law authorizes the superintendent to adopt a regulation which establishes the circumstances under which vacancies on the board of directors of a bank, trust company, stock-form savings bank, and stock-form savings and loan association may be left unfilled until the next annual election by the stockholders.
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