Section 3-411 - Officers.
§ 3-411. Officers.
(a) Election by board.- Within 15 days after the annual meeting of the stockholders and after the directors-elect have qualified, the board of directors of a commercial bank shall meet and elect the officers of the commercial bank.
(b) Tenure.- Unless the bylaws provide otherwise, each officer serves for a term of 1 year and until a successor is elected and qualifies.
(c) Removal.- The board of directors may remove any officer at any time.
[CA §§ 6-128, 6-149; 1980, ch. 33, § 2.]