FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER VII—DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND ASSISTANTS
Qualifications and disabilities
12 U.S.C. § 303
Title12 — Banks and Banking
ChapterSUBCHAPTER VII—DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND ASSISTANTS
This text of 12 U.S.C. § 303 (Qualifications and disabilities) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 303.
Text
No Senator or Representative in Congress shall be a member of the Board of Governors of the Federal Reserve System or an officer or a director of a Federal reserve bank.
No director of class B shall be an officer, director, or employee of any bank.
No director of class C shall be an officer, director, employee, or stockholder of any bank.
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Related
Custodia Bank Inc v. Federal Reserve Board of Governors
(D. Wyoming, 2022)
Source Credit
History
(Dec. 23, 1913, ch. 6, §4 (pars.), 38 Stat. 255; Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704.)
Editorial Notes
Editorial Notes
Codification
Section is comprised of pars. 13 to 15 of section 4 of act Dec. 23, 1913. For classification to this title of other pars. of section 4, see Codification note set out under section 301 of this title.
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Codification
Section is comprised of pars. 13 to 15 of section 4 of act Dec. 23, 1913. For classification to this title of other pars. of section 4, see Codification note set out under section 301 of this title.
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
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Bluebook (online)
12 U.S.C. § 303, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/303.