12 U.S.C. § 2012 — Board of directors
submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 58 words · no verdicts yet
Each Farm Credit Bank must elect a board of directors under its bylaws. At least one additional member must be elected by the other directors and must have no connection to a System institution.
Each Farm Credit* Bank must elect a board of directors with the number of members, terms, election method, and qualifications required by its bylaws. However, at least one member must be elected by the other directors. That member may not be a director*, officer, employee, or stockholder of a Farm Credit System institution.
Each Farm Credit* 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.
Source credit: (Pub. L. 92–181, title I, § 1.4, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622; amended Pub. L. 100–399, title IV, § 401(c), Aug. 17, 1988, 102 Stat. 995.)
- 1988Enacted · Pub. L. 92-181 · 101 Stat. 1622
- 1988Amended · Pub. L. 100-399 · 102 Stat. 995
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.
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