Organization and Operation. The Committee shall elect a Chairman and a Secretary and such other officers as it shall deem appropriate. The Committee shall act by majority vote of its members, which may be taken with or without a meeting, provided a written record signed by a majority of its members is made of any action taken without a meeting. The Committee shall keep a permanent record of its meetings and actions. The Committee may authorize one or more of its members, or a person who is not a member, to execute documents on behalf of the Committee.
Appears in 3 contracts
Sources: Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/), Employee Stock Ownership and Thrift Plan and Trust Agreement (Bancfirst Corp /Ok/), Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/)