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12 U.S.C. § 245 — Vacancies during recess of Senate

submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 41 words · no verdicts yet

in plain englishAI-generated · not legal advice

The President can fill any vacancy on the Federal Reserve Board while the Senate is in recess. That temporary appointment ends when the Senate's next session begins.

This section lets the President make temporary appointments to the Federal Reserve Board. If a seat on the Board of Governors of the Federal Reserve System becomes vacant while the Senate is in recess, the President can fill it by giving the new member a commission. That commission expires once the Senate's next session begins.
the actual law source: uscode.house.gov ↗public domain

The President shall have power to fill all vacancies that may happen on the Board of Governors of the Federal Reserve System during the recess of the Senate by granting commissions which shall expire with the next session of the Senate.

Source credit: (Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 260; June 3, 1922, ch. 205, 42 Stat. 620; Aug. 23, 1935, ch. 614, title II, § 203(a), 49, Stat. 704.)

history & why it existsrecord from the source credit
  • 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 260
  • 1922Amended · Act of June 3, 1922, ch. 205 · 42 Stat. 620
  • 1935Amended · Act of Aug. 23, 1935, ch. 614

A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.

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