Sec. 36a-449a. Meetings of governing board.
Sec. 36a-449a. Meetings of governing board. (a) The governing board of a Connecticut credit union shall meet as often as necessary and at least monthly, provided if
the governing board delegates its authority to an executive committee, one body shall
meet at least monthly and the other at least quarterly, as provided in the bylaws. The
governing board shall keep complete minutes of all of its meetings which shall include
the names of all directors present at each meeting.
(b) Unless the bylaws provide otherwise, the governing board may permit any and
all directors to participate in all except one meeting per year of the governing board
through the use of any means of communication by which all directors participating in
the meeting may simultaneously hear each other and communicate during the meeting.
A director participating in a meeting by this means is deemed to be present at the meeting.
(c) At the meeting of the governing board following the annual meeting of members,
the governing board shall elect officers of the governing board and appoint committee
members.
(d) Unless a greater number is required by the bylaws, a majority of the governing
board shall constitute a quorum. The act of a majority of the directors present at a meeting
at which a quorum is present shall be the act of the governing board unless the act of a
greater number is required by sections 36a-435a to 36a-472a, inclusive, or the bylaws
of the credit union.
(P.A. 02-73, S. 46.)