908

If any director of the Bank shall violate or knowingly or negligently permit any of the officers, agents or employees of the Bank to violate any laws or any of the provisions of the Charter of the Bank, the matter shall be reported to the Governor. Upon receiving such report the Governor shall call a meeting of the Banking Board and shall submit to it the report of his recommendations. The Banking Board shall give the director under charge the opportunity to be heard and thereafter it may remove such director and take whatever additional action it may deem necessary.