221.0620 Officers.
(1) Creation and appointment. A bank shall have the officers described in its bylaws or appointed by its board of directors by resolution not inconsistent with its bylaws.
(2) Election of officers. The officers of the bank shall be elected by the board of directors. However, a duly appointed officer may appoint one or more officers or assistant officers if authorized by the bylaws or the board of directors.
(3) Senior executive officer. The senior executive officer in charge of conducting business shall be chosen from the board of directors.
(4) Multiple offices. An individual may simultaneously hold more than one office in a bank.
(5) Ineligibility for office. An individual who has been previously convicted of any crime under federal or state banking laws may not be elected an officer of a bank.
History: 1995 a. 336.
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