§ 2203. Nomination of association directors; representative selection of nominees

Statutory text

Each production credit association and each Federal land bank association shall elect a nominating committee by vote of the stockholders at the annual meeting to serve for the following year. Each nominating committee shall review lists of farmers from the association territory, determine their willingness to serve, and submit for election a slate of eligible candidates which shall include at least two nominees for each elective office to be filled. In doing so, the committee shall endeavor to assure representation to all sections of the association territory and as nearly as possible to all types of agriculture practiced within the area. Employees of the association shall not be eligible to be nominated, elected, or serve as a member of the board. Nominations shall also be accepted from the floor. Members of the board are not eligible to serve on the nominating committee. Regulations of the Farm Credit Administration governing the election of bank directors shall similarly assure a choice of two nominees for each elective office to be filled and that the bank board represent as nearly as possible all types of agriculture in the district.

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.

1971
Farm Credit Act of 1971
Pub. L. 92–181 title IV § 4 · 85 Stat. 583
Enacted · 12 U.S.C. § 2203
Pub. L. 92–181, title IV, § 4.15, Dec. 10, 1971, 85 Stat. 613
Source evidence
Code source credit
Pub. L. 92–181, title IV, § 4.15, Dec. 10, 1971, 85 Stat. 613
Enacted provision · exact public law section
(4) Sue and be sued.
1988
Agricultural Credit Technical Corrections Act of 1988
Pub. L. 100–399 title IX § 901(g) · 102 Stat. 989
1. Substituted · 12 U.S.C. § 2203
  Pub. L. 100–399 substituted “bank directors” for “district directors”
2. Substituted · 12 U.S.C. § 2203
  Pub. L. 100–399 substituted “bank board” for “district board”
Source evidence
Code amendment note
Pub. L. 100–399 substituted “bank directors” for “district directors” and “bank board” for “district board”.
Enacted provision · exact public law section
(g) Section 4.15 is amended by striking out “district” the first and 12 USC 2203. second places it appears and inserting in lieu thereof “bank”.
Effective date note
Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.

3 of 3 references resolved to an enrolled provision

Editorial Notes

Amendments

1988—Pub. L. 100–399 substituted “bank directors” for “district directors” and “bank board” for “district board”.

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.

Credits

1971–1988 · 2 acts

1971Pub. L. 92–181, title IV, § 4.15, Dec. 10, 1971, 85 Stat. 613
1988Pub. L. 100–399, title IX, § 901(g), Aug. 17, 1988, 102 Stat. 1007.

Show as published

(Pub. L. 92–181, title IV, § 4.15, Dec. 10, 1971, 85 Stat. 613; Pub. L. 100–399, title IX, § 901(g), Aug. 17, 1988, 102 Stat. 1007.)