1. A state bank shall have as officers a president, one vice president, and a cashier. No more than two of these positions may be held by the same individual. A state bank may have other officers as prescribed by the articles of incorporation or bylaws. 2. The board of directors shall elect one officer as the chief executive officer, who shall be a member of the board of directors. 3. Upon written notice bythe superintendent, an individual who performs active executive or official duties for a state bank may be treated as an executive officer. A state bank may have a chairperson of the board of directors who, ifthe person does not perform executive or officialduties or receive a salary, need not be considered anexecutive officer of thestate bank. 4. An individual employed by a state bank, other than a director or anofficer, isconsidered an employee for the purposes of this chapter.
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