Board of directors

  1. Law
  2. USC 12
  3. Banks And Banking
  4. FARM CREDIT SYSTEM
  5. RESTRUCTURING OF SYSTEM INSTITUTIONS
  6. Merger of Banks Within a District
  7. Board of directors

Checkout our iOS App for a better way to browser and research.

§2279a–1. Board of directors

Each merged bank shall elect a board of directors of such number, for such term, in such manner, and with such qualifications, as may be required in its bylaws, except that at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, or stockholder of a System institution.

(Pub. L. 92–181, title VII, §7.1, as added Pub. L. 100–233, title IV, §416, Jan. 6, 1988, 101 Stat. 1645 ; amended Pub. L. 100–399, title IV, §408(c), Aug. 17, 1988, 102 Stat. 1001 .)

Amendments

1988-Pub. L. 100–399 struck out "for the district" in section catchline and amended text generally, revising and restating as a single unlettered paragraph provisions of former subsecs. (a) and (b).

Effective Date of 1988 Amendment

Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.


Download our app to see the most-to-date content.