§ 2092. Board of directors

Statutory text

Each Federal land bank association shall elect from its voting shareholders a board of directors of such number, for such terms, in such manner, and with such qualifications as may be required by its bylaws 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.

1988
Farm Credit Act of 1971
Pub. L. 92–181 title II § 2 · 85 Stat. 583
Enacted · 12 U.S.C. § 2092
Pub. L. 92–181, title II, § 2.11, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635
Source evidence
Code source credit
Pub. L. 92–181, title II, § 2.11, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635
Enacted provision · exact public law section
(2) Have succession until dissolved under the provisions of this Act or other Act of Congress.
1991
Pub. L. 102–237 title V § 502(d) · 105 Stat. 1818
Substituted · 12 U.S.C. § 2092
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
(d) Amendment to Section 2.11.— Section 2.11 of such Act (12 U.S.C. 2092) is amended by striking “or stockholder” and inserting “stockholder, or agent”.

2 of 2 references resolved to an enrolled provision

Editorial Notes

Prior Provisions

A prior section 2092, Pub. L. 92–181, title II, § 2.11, Dec. 10, 1971, 85 Stat. 598, related to board of directors, prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.

Amendments

1991—Pub. L. 102–237 substituted “stockholder, or agent” for “or stockholder”.

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.

Credits

1988–1991 · 2 acts

1988Pub. L. 92–181, title II, § 2.11, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635
1991amended Pub. L. 102–237, title V, § 502(d), Dec. 13, 1991, 105 Stat. 1868.

Show as published

(Pub. L. 92–181, title II, § 2.11, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635; amended Pub. L. 102–237, title V, § 502(d), Dec. 13, 1991, 105 Stat. 1868.)