Folks,
Examiners have told me repeatedly that -- logical interpretation of the Bank Protection Act here -- a Security Officer must be appointed and available for consultation. If your Security Officer is on vacation, at school, suspended or fired, you should have another one "in-the-chute" who has been pre-approved and pre-appointed by the Board. Technically, if you wait for the next Board meeting, your institution might be in violation of the Act. Think FIRREA . . .