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This entry was published on 2014-09-22
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Report to directors
§ 397-a. Report to directors. The board of directors of every savings
and loan association shall designate, by resolution duly recorded in the
minutes, an officer or officers whose duty it shall be to prepare and
submit to each director present at a regular meeting of the board or to
each member of an executive committee of not less than five members of
such board present at a regular meeting of such committee, a written
report containing such information and meeting such requirements as are
required in the case of reports submitted to the trustees of savings
banks pursuant to section two hundred fifty-two of this chapter and such
regulations as the superintendent may promulgate thereunder or
hereunder. A copy of such report, verified by the affidavit of the
officer or officers charged with the duty of preparing and submitting
such report, together with a list of the directors present at such
meeting, shall be filed with the records of the savings and loan
association within one day after such meeting, and shall be presumptive
evidence of the matters therein stated. The superintendent, by
regulation, may require the preparation and submission of such a report
to directors at dates other than those required herein.