Of course we have alot of policies, previously they were approved at a marathon board meeting. I was wanting to spread them out over the year to ensure better review of them. All will be approved in the calander year but some will have been approved May 2006 then again on October 2007.

Do any REQUIRE approval within a 12 month timeframe??

Thanks for your help

Someone may say otherwise, but I can't think of any that require anything other than "annual". The only requirement for an exact timing, that comes to mind...is the sending out of privacy notices.

We have a calendar for policy reviews/updates/additions. Each month we present anywhere from 2 - 4 policies for review to the Audit Committee and then onto the BOD. This appears to be quite effective since we are not overwhelmed at any one time and this ensures each is addressed yearly. Our regulators are good with this process. (We do not have any that require anything other than annual review).

Our BOD approves changes to policies throughout the year, and all get blessed again annually at the annual meeting.

Last year our FDIC examiner told me that they just look for board action every calendar year. For example, they look for an increment in the adoption year of the policy... an update from sometime in 2005 to sometime in 2006. They don't get fussy about the month in which it occurred.

Of course, this could just be one examiner's opinion!

Since we are on the subject of policies, Do all policies go to the board?
If someone were to make a statement such as "The bank will require an authorization for all address changes" is that a policy? or procedure?

Any time we make a change to policy, it goes to the board. Your policy says what you will do (require authorization), procedure will state how you will adhere to policy (address form is completed and signed by customer)