§ 13-2-401 — Authority to manage banks; qualifications

The affairs of a bank shall be managed by not less than five (5)
directors. Shareholders or the board of directors if provided by
the articles of incorporation may adopt and amend bylaws for the
management of the bank. Each director shall take an oath that he
will faithfully and diligently perform the duties of his office
and will not violate or knowingly permit the violation of any of
the laws of this state relating to the banking business. Within
thirty (30) days after being elected or appointed each director
of a bank shall sign the oath required by this section on a form
prescribed by the commissioner and it shall be part of the
record of the meeting and included in the bank's minutes. Within
thirty (30) days after initially being elected or appointed each
director of a bank shall file with the commissioner a sworn
financial statement on a form prescribed by the state banking
commissioner.