FEDERAL · 12 U.S.C. · Chapter 2
President of bank as member of board; chairman of board
Current through Pub. L. 119-102
The president of the bank shall be a member of the board and shall be the chairman thereof, but the board may designate a director in lieu of the president to be chairman of the board, who shall perform such duties as may be designated by the board.
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12 U.S.C. § 76 (President of bank as member of board; chairman of board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Source Credit
History
(R.S. §5150; Feb. 25, 1927, ch. 191, §6, 44 Stat. 1228.)
Editorial Notes
Editorial Notes
Codification
R.S. §5150 derived from act June 3, 1864, ch. 106, §9, 13 Stat. 102, which was the National Bank Act. See section 38 of this title.
Amendments
1927—Act Feb. 25, 1927, amended section generally. Prior to amendment, section read as follows: "One of the directors, to be chosen by the board, shall be president of the board."
Codification
R.S. §5150 derived from act June 3, 1864, ch. 106, §9, 13 Stat. 102, which was the National Bank Act. See section 38 of this title.
Amendments
1927—Act Feb. 25, 1927, amended section generally. Prior to amendment, section read as follows: "One of the directors, to be chosen by the board, shall be president of the board."