Virginia § 6.2-866 Meetings of board of directors

Virginia Statutes

§ 6.2-866 — Meetings of board of directors

Virginia § 6.2-866

JurisdictionVirginia

Title 6.2Financial Institutions and Services

Subtitle IIDepository Institutions and Trust Organizations

Ch. 8Banks

Art. 8Directors and Officers; Dividends

This text of Virginia § 6.2-866 (Meetings of board of directors) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-866 (2026).

Text

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.

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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.