<html> <head> <title>Rule 20:07:03:18 Board member involvement required.</title> <META NAME="Keywords" Content="Administrative Rules 20:07:03:18"> <META NAME="Description" Content="Administrative Rules 20:07:03:18 Board member involvement required."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:07:03:18.&nbsp;&nbsp;Board member involvement required.</b> Board members must demonstrate involvement in the affairs of the bank by attendance at a majority of board meetings as shown by the minutes or by other proof in writing furnished to the division which satisfactorily demonstrates participation by the board member.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 11 SDR 46, effective October 9, 1984; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 28, effective August 21, 1988.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-13">51A-2-13.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=51A-2-13">51A-2-13.</A></p> </div> </body> </html>