Board members must demonstrate involvement in the affairs of the bank by attendance at a majority of board meetings as shown by the minutes or by other proof in writing furnished to the division which satisfactorily demonstrates participation by the board member.

Source: 11 SDR 46, effective October 9, 1984; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 28, effective August 21, 1988.

General Authority: SDCL 51A-2-13.

Law Implemented: SDCL 51A-2-13.