Title 12 — Banks and BankingRelease 119-73not60
§3016 Annual Meetings; Notice, Agenda, Etc.
Title 12 › Chapter 31— NATIONAL CONSUMER COOPERATIVE BANK › Subchapter I— ESTABLISHMENT AND OPERATION › § 3016
Summary
The Bank must hold a public annual meeting and give all stockholders at least 30 days' notice of the time and place. Borrowers must tell their members, who may attend. At the meeting the Bank must report on its yearly activities and finances, may present proposals, and members or borrower representatives may make motions and join discussions on matters covered by this chapter and other agenda items.
Full Legal Text
Title 12, §3016
Banks and Banking — Source: USLM XML via OLRC
The Bank shall hold an annual meeting of its stockholders which shall be open to the public. At least 30 days’ advance notice of the time and place of the annual meeting shall be given to all stockholders. Borrowers from the Bank shall also give notice of the meeting to their members, who shall be entitled to attend. At such meeting the Bank shall give a full report of its activities during the year and its financial condition and may present proposals for future action and other matters of general concern to borrowers and organizations eligible to borrow from the Bank. Members and representatives of borrowers may present motions or resolutions relating to matters within the scope of this chapter and may participate in the discussion thereof and other matters on the agenda.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3016
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60