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42 U.S.C. § 3934 — Board of Directors; membership; appointment; term

submitted 58 years ago by Pub. L. 90-448 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 131 words · no verdicts yet

in plain englishAI-generated · not legal advice

Board of Directors. The corporation must have a board of directors (called “board” in this section), consisting of fifteen members. The remaining provisions state related rules, conditions, exceptions, or definitions.

The corporation must have a board of directors (called “board” in this section), consisting of fifteen members. Three members of the board must be appointed by the President of the United States, by and with the advice and consent of the Senate, effective on the date on which the other members are elected, and for terms of three years or until their successors have been appointed and have qualified, except that the first three members of the board so appointed must continue in office for terms of one, two, and three years, respectively, and any member so appointed to fill a vacancy must be appointed only for the unexpired term of the director whom he succeeds. Twelve members of the board must be elected by the stockholders.
the actual law source: uscode.house.gov ↗public domain

The corporation shall have a board of directors (hereinafter in this section referred to as the “board”), consisting of fifteen members. Three members of the board shall be appointed by the President of the United States, by and with the advice and consent of the Senate, effective on the date on which the other members are elected, and for terms of three years or until their successors have been appointed and have qualified, except that the first three members of the board so appointed shall continue in office for terms of one, two, and three years, respectively, and any member so appointed to fill a vacancy shall be appointed only for the unexpired term of the director whom he succeeds. Twelve members of the board shall be elected by the stockholders.

Source credit: (Pub. L. 90–448, title IX, § 904, Aug. 1, 1968, 82 Stat. 547.)

history & why it existsrecord from the source credit
  • 1968Enacted · Pub. L. 90-448 · 82 Stat. 547

A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-448 on 1968-08-01.

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