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#2165003 - 02/16/18 06:33 PM Directorl Requirement - Level Unencumbered stock?
MTBDeb Offline
Junior Member
Joined: Oct 2016
Posts: 42
Is it a state or Federal requirement that when a director takes the oath, he/she must have a certain level of unencumbered bank stock? Can you point me to the rule?

Thank you.

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#2165004 - 02/16/18 06:37 PM Re: Directorl Requirement - Level Unencumbered stock? MTBDeb
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,290
Galveston, TX
National Banks - 12 CFR 7.2005

If you are a State bank - it would be a State law.
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#2165025 - 02/16/18 07:23 PM Re: Directorl Requirement - Level Unencumbered stock? MTBDeb
MTBDeb Offline
Junior Member
Joined: Oct 2016
Posts: 42
Thank you! Sent the question to DORA!

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