Volume 113 · 227
Public Law 106–46
To clarify the quorum requirement for the Board of Directors of the Export-Import Bank of the United States.
Approved August 11, 1999
Statutory text
An Act
To clarify the quorum requirement for the Board of Directors of the Export-Import Bank of the United States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. CLARIFICATION OF QUORUM REQUIREMENT FOR THE EXPORT-IMPORT BANK OF THE UNITED STATES.
In General.—
Section 3(c)(6) of the Export-Import Bank Act of 1945 (12 U.S.C. 635a(c)(6)) is amended to read as follows:
“(6) A quorum of the Board of Directors shall consist of at least three members.”.
Exception.—
Notwithstanding section 3(c)(6) of the Export-Import
Bank Act of 1945, if, during the period that begins on July 21, 1999, and ends on October 1, 1999, there are fewer than three persons holding office on the Board of Directors of the Export-Import Bank of the United States, the entire membership of such Board of Directors shall constitute a quorum until the end of such period.
Approved August 11, 1999.