§ 28211 Annual Licensee Board Meetings

• •The people in charge of a company must meet at least once a year.
• •This meeting is required by law, not optional.
• •The meeting must happen every single year, no skipping.

A small local bank’s board of directors hasn’t met in over a year.

The bank is breaking the law because the people in charge didn’t meet even once last year. They have to meet at least one time every year, no excuses.