Montana § 32-1-909 Board Of Directors -- Lack Of Quorum -- Temporary Board Members

Montana Statutes

§ 32-1-909 — Board Of Directors -- Lack Of Quorum -- Temporary Board Members

Montana § 32-1-909

Title 32FINANCIAL INSTITUTIONS

Ch. 1BANKS AND TRUST COMPANIES

Part 9Removal of Directors or Officers of Financial Institutions

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Bluebook

Mont. Code Ann. § 32-1-909 (2026).

Text

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.

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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.