N.Y. Comp. Codes R. & Regs. tit. 3, § 306.1 – Explanatory note regarding vacancies on the board of directors. | Midpage
§ 306.1
N.Y. Comp. Codes R. & Regs. tit. 3, § 306.1
Explanatory note regarding vacancies on the board of directors.
Banking
(a) Subdivision 1 paragraph (b) of section 7005 of the Banking Law authorizes the superintendent to adopt a regulation which establishes the circumstances under which vacancies on the board of directors of a bank, trust company, stock-form savings bank, and stock-form savings and loan association may be left unfilled until the next annual election by the stockholders.