Review and Appointments of the following items shall be made by the board of directors at least annually.
- (1) A review and approval of the internal control audit program, lending policy and asset/liability management policy and their implementation for the previous year.
- (2) A review and approval of the institution's blanket bond and all other insurance coverages.
- (3) Elect officers and appoint committees for the coming year as designated by the bylaws.
- (4) Designate the officers and/or employees with authority to sign official checks of the bank or trust company, to include any dollar limitations or two signatures required stipulations.
- (5) Review the report per Subchapter 7 of this Chapter, "Director's Examination". Follow up on the disposition of any differences or recommendations and submit a copy of the report to the Commissioner within the time prescribed in Subchapter 7 of this Chapter.
Amended at 15 Ok Reg 2952, eff 7-15-98
Amended at 25 Ok Reg 1064, eff 5-25-08