PBCOM By-Laws Table and Summary (Rev)
PBCOM By-Laws Table and Summary (Rev)
PBCOM By-Laws Table and Summary (Rev)
1. Article III, Section 1 – Directors, insertion of new subsections as: Section 1.A. Chairman
Emeritus, Section 1.B. Chairman of the Board, and Section 1.C. Vice Chairmen of the Board;
to update the provisions on the duties and responsibilities of the Chairman of the Board
2. Article IV, Section 1 – The Executive Committee, changing the composition of the
committee to “at least five (5) members of the Board of Directors” to align with the
committee’s charter document;
3. Article V, Section 1 – The Audit Committee, to update the composition and functions of
board-level committees as prescribed by the Manual of Regulations for Banks;
4. Article VI, Section 1 – The Risk Oversight Committee, to update the composition and
functions of board-level committees as prescribed by the Manual of Regulations for Banks;
6. Article VIII, Section 1 – The Related Party Transactions Committee, to update the
composition and functions of board-level committees as prescribed by the Manual of
Regulations for Banks;
Detailed Amendments:
7 ARTICLE V ARTICLE X
5. PRESIDENT 2. PRESIDENT
7. COMPTROLLER 4. COMPTROLLER
8. TREASURER 5. TREASURER
9. SECRETARY 6. SECRETARY
ARTICLE XI ARTICLE XV
SEAL SEAL
ARTICLE XII ARTICLE XVI
These By-Laws or any part thereof These By-Laws or any part thereof
may be amended, modified, altered, or may be amended, modified, altered, or
repealed, or new by-laws adopted by repealed, or new by-laws adopted by
majority vote of the subscribed capital majority vote of the subscribed capital
stock at a regular or special meeting stock at a regular or special meeting
duly called for the purpose. The duly called for the purpose. The
registered owners of two-thirds of the registered owners of two-thirds of the
subscribed capital stock may delegate subscribed capital stock may delegate
to the Board of Directors the power to to the Board of Directors the power to
amend or repeal any by-law or adopt amend or repeal any by-law or adopt
new by-laws, provided, however, that new by-laws, provided, however, that
any such power delegated to the Board any such power delegated to the Board
of Directors shall be considered of Directors shall be considered
revoked whenever a majority of the revoked whenever a majority of the
Stockholders of the Bank shall so vote Stockholders of the Bank shall so vote
at a regular or special meeting. at a regular or special meeting.
(Amended on August 4, 2000) (Amended on August 4, 2000)