§ 13-2-403 — Meetings; record of proceedings and business

(a) The board of directors of a bank shall hold a regular
meeting every quarter of the calendar year. At each meeting a
detailed report showing every loan and investment in excess of
one percent (1%) of the bank's capital and surplus made since
the last report and the aggregate liability, direct or
contingent, to the bank of each officer and director shall be
submitted. The board of directors shall review the report and
make it a part of the record of the meeting. The record shall
show their approval or disapproval of the report.
(b) A record of the proceedings and business of all
meetings shall be included in the bank's minutes. The record
shall show the gross earnings of the bank and their disposition
by indicating expenses and taxes paid, worthless items charged
off, depreciation in assets, amount carried to surplus fund and
amount of dividend and amount of undivided profits remaining.