13-5-520. Meetings; record of proceedings and business.
(a) The board of directors or managers of a public trust company shall hold a regular meeting at least once every quarter of the calendar year. At each meeting a detailed report showing all trust business shall be submitted. The board of directors or managers shall review the report and make it a part of the record of the meeting. The record shall show their approval or disapproval of the report.
(b) A record of the proceedings and business of all meetings shall be included in the public trust company's minutes.
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