12 U.S.C. § 2092 — Board of directors
submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 64 words · no verdicts yet
Each Federal land bank association must elect a board from its voting shareholders under its bylaws. At least one member must be elected by the other directors and may not have the listed connection to a System institution.
Each Federal land bank association must elect a board of directors from its voting shareholders. The association’s bylaws determine the board’s number, terms, election method, and qualifications. However, at least one member must be elected by the other directors, and that member may not be a director*, officer, employee, stockholder, or agent of a System institution.
Each Federal land bank association shall elect from its voting shareholders a board of directors of such number, for such terms, in such manner, and with such qualifications as may be required by its bylaws except that, at least one member shall be elected by the other directors, which member shall not be a director*, officer, employee, stockholder, or agent of a System institution.
Source credit: (Pub. L. 92–181, title II, § 2.11, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635; amended Pub. L. 102–237, title V, § 502(d), Dec. 13, 1991, 105 Stat. 1868.)
- 1988Enacted · Pub. L. 92-181 · 101 Stat. 1635
- 1991Amended · Pub. L. 102-237 · 105 Stat. 1868
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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