Title 12: Banks and Banking
PART 7—BANK ACTIVITIES AND OPERATIONS
Subpart B—Corporate Practices
Browse Previous | Browse Next
§ 7.2008 Oath of directors.
(a) Administration of the oath. A notary public, including one who is a director but not an officer of the national bank, may administer the oath of directors. Any person, other than an officer of the bank, having an official seal and authorized by the state to administer oaths, may also administer the oath.
(b) Execution of the oath. Each director attending the organization meeting shall execute either a joint or individual oath. A director not attending the organization meeting (the first meeting after the election of the directors) shall execute the individual oath. A director shall take another oath upon re-election, notwithstanding uninterupted service. Appropriate sample oaths are located in the “Comptroller's Corporate Manual”.
(c) Filing and recordkeeping. A national bank must file the original executed oaths of directors with the OCC and retain a copy in the bank's records in accordance with the Comptroller's Corporate Manual filing and recordkeeping instructions for executed oaths of directors.
[61 FR 4862, Feb. 9, 1996, as amended at 64 FR 60099, Nov. 4, 1999]
