N.D. Admin Code 13-02-14-01 - Definitions
"Key person" means the chairman of the board, the president, each vice president, the cashier, the secretary, the treasurer, or any other employee or director of a bank or bank holding company whose absence for an extended period of time would result in a significant loss of net income for the bank, unless such key person is excluded, by resolution of the board of directors or by the bylaws of the bank or bank holding company, from participation, other than in the capacity of a director, in policymaking functions of the bank or bank holding company, and the key person does not actually participate in policymaking functions of the bank or bank holding company.
Notes
General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-03-02
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