§ 53-79. Minutes of meetings of directors and executive and loan committees.
§53‑79. Minutes of meetings of directors and executive and loancommittees.
Minutes shall be kept of allmeetings of the board of directors, executive committee or committees, and ofthe loan committee or committees, if appointed, and the same shall be recordedin a book or books which shall be kept for that purpose; which book or booksshall be kept on file in the bank. Such minutes shall show a record of theaction taken by the board of directors, the executive committee or committeesand the loan committee or committees on all loans, discounts, and investmentsmade, authorized or approved, and such further action as the board of directorsand the executive committee or committees shall take concerning the conduct,management and welfare of the bank. The minutes of the executive committee andall committees authorizing or approving loans and investments, showing theactions taken by such committees since the last meeting of the board ofdirectors, shall be submitted to the board of directors at each meeting of theboard. (1921, c. 4, s. 50; C.S., s. 221(b); 1951, c. 167, s.2.)