                                 CODE OF VIRGINIA

MEETINGS OF BOARD OF DIRECTORS (§ 6.2-866)

The board of directors of every bank shall hold meetings at least once in each
calendar month. At each meeting of the board, a majority of the whole board
shall be necessary for the lawful transaction of business. Notwithstanding the
foregoing, (i) the shareholders, by bylaw, may fix any number not less than a
majority as a quorum and (ii) the Commission may allow less frequent meetings,
but not less often than quarterly.

HISTORY: Code 1950, § 6-43; 1966, c. 584, § 6.1-52; 1981, c. 203; 2010, c.
794; 2019, cc. 242, 244.