Title 12 — Banks and Banking
Part A · Chapter 23 — Farm Credit System
§ 2072. Board of directors
Statutory text
Each production credit association shall elect from the voting members of such association, a board of directors of such number, for such terms, with such qualifications, and in such manner as may be required by the bylaws of the association, except that at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, stockholder, or agent of a System institution.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Farm Credit Act of 1971
Pub. L. 92–181 title II § 2 · 85 Stat. 583
Enacted · 12 U.S.C. § 2072
Pub. L. 92–181, title II, § 2.1, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1630
Source evidence
Code source credit
Pub. L. 92–181, title II, § 2.1, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1630Enacted provision · exact public law section
(2) Have succession until dissolved under the provisions of this Act or other Act of Congress.Agricultural Credit Technical Corrections Act of 1988
Pub. L. 100–399 title IV § 401(n) · 102 Stat. 989
Struck · 12 U.S.C. § 2072
Pub. L. 100–399 struck out the comma after “except that”
Source evidence
Code amendment note
Pub. L. 100–399 struck out the comma after “except that”.Enacted provision · exact public law section
(n) Section 2.1 is amended by striking out the sixth comma.Effective date note
Amendment by Pub. L. 100–399 effective immediately after amendment made by section 401 of Pub. L. 100–233, which was effective 6 months after Jan. 6, 1988, see section 1001(b) of Pub. L. 100–399, set out as a note under section 2002 of this title.Pub. L. 102–237 title V § 502(c) · 105 Stat. 1818
Substituted · 12 U.S.C. § 2072
Pub. L. 102–237 substituted “stockholder, or agent” for “or stockholder”
Source evidence
Code amendment note
Pub. L. 102–237 substituted “stockholder, or agent” for “or stockholder”.Enacted provision · exact public law section
(c) Amendment to Section 2.1.— Section 2.1 of such Act (12 U.S.C. 2072) is amended by striking “or stockholder” and inserting “stockholder, or agent”.
3 of 3 references resolved to an enrolled provision
Editorial Notes
Prior Provisions
A prior section 2072, Pub. L. 92–181, title II, § 2.1, , 85 Stat. 591; Pub. L. 96–592, title II, § 201, , 94 Stat. 3439; Pub. L. 99–205, title II, § 205(e)(1), , 99 Stat. 1704; Pub. L. 100–233, title VII, § 705(c), title VIII, §§ 802(i), 805(d), , 101 Stat. 1707, 1711, 1715; Pub. L. 100–399, title VI, § 604, title IX, § 901(b), , 102 Stat. 1006, 1007, related to corporate existence and general corporate powers, prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
Amendments1988–1991 · 2 rounds
1991
Pub. L. 102–237 substituted “stockholder, or agent” for “or stockholder”.
1988
Pub. L. 100–399 struck out the comma after “except that”.
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399 effective immediately after amendment made by section 401 of Pub. L. 100–233, which was effective 6 months after , see section 1001(b) of Pub. L. 100–399, set out as a note under section 2002 of this title.
Effective Date
Pub. L. 100–233, title IV, § 401, , 101 Stat. 1622, provided in part that this section is effective 6 months after .
Credits
1988–1991 · 3 acts
- 1988Pub. L. 92–181, title II, § 2.1, as added Pub. L. 100–233, title IV, § 401, , 101 Stat. 1630
- 1988amended Pub. L. 100–399, title IV, § 401(n), , 102 Stat. 997
- 1991Pub. L. 102–237, title V, § 502(c), , 105 Stat. 1868.
Show as published
(Pub. L. 92–181, title II, § 2.1, as added Pub. L. 100–233, title IV, § 401, , 101 Stat. 1630; amended Pub. L. 100–399, title IV, § 401(n), , 102 Stat. 997; Pub. L. 102–237, title V, § 502(c), , 105 Stat. 1868.)