The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
6-185 - Board of directors' meetings; review; report of failure of quorum to meet
6-185. Board of directors' meetings; review; report of failure of quorum to meet
A meeting of the board of directors of a bank shall be called each month or each quarter. The superintendent shall designate for each bank whether the board shall meet monthly or quarterly. The superintendent may change the designation at any time without providing the bank advanced notice. At the meetings, the board shall review the loans and investments and other material activities of the bank or review a report thereof prepared under the direction of the board as a regular item of business. The board shall keep minutes of all meetings including a record of attendance. If at any required meeting a majority of the members are not present, the bank shall notify the superintendent in writing of that fact.