Financial institutions

Creation and Expansion

SECTION 19-2-5

§ 19-2-5 Proceedings at subscribers' meeting.

At the first meeting, or at the adjournment of any meeting, the subscribers shall, without limiting other actions, choose a temporary secretary, adopt by-laws, and elect, in any manner as the by-laws may determine, directors, a president, a secretary, and any other officers as the by-laws may prescribe. All of the elected officers shall be sworn to the faithful performance of their duties. The temporary secretary shall make and attest a record of the proceedings until the secretary has been chosen and sworn, including a record of the choice and qualification.

History of Section.
(P.L. 1995, ch. 82, § 39.)