Ken's reluctance to generalize is wise, but I do think a general statement can be made about the change of bank ownership -- the responsibility for retaining board minutes and other records is assumed by the acquiring entity. If there is no change in the entity, but ownership of the entity changes (as might be the case if closely-held stock is transferred), the entity's responsibility for the records continues unabated.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8