Section 4-507 - Attendance at board meetings.
§ 4-507. Attendance at board meetings.
(a) Attendance required.- Each director of a savings bank shall attend at least one half of the regularly scheduled board meetings that are held during the director's term of office.
(b) Disqualification for additional terms.-
(1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.
(2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.
[CA § 6-152; 1980, ch. 33, § 2; 1996, ch. 326, § 2.]