§ 2284. Board of Directors

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.

1. 1973

   federal Financing Bank Act of 1973

   Pub. L. 93–224 § 5 · 87 Stat. 937

   Enacted · 12 U.S.C. § 2284

   (Pub. L. 93–224, § 5, Dec. 29, 1973, 87 Stat. 937.)

   Source evidence

   Code source credit
   (Pub. L. 93–224, § 5, Dec. 29, 1973, 87 Stat. 937.)

   Enacted provision · exact public law section
   Sec. 5. board of directors (a) The Bank shall have a Board of Directors consisting of five persons, one of whom shall be the Secretary of the Treasury as Chairman of the Board, and four of whom shall be appointed by the President from among the officers or employees of the Bank or of any Federal agency. The Chairman and each other member of the Board may designate some other officer or employee of the Government to serve in his place. (b) The Board of Directors shall meet at the call of its Chairman. The Board shall determine the general policies which shall govern the operations of the Bank. The Chairman of the Board shall select and effect the appointment of qualified persons to fill such offices as may be provided for in the bylaws, and such persons shall be the executive officers of the Bank and shall discharge such executive functions, powers, and duties as may be provided for in the bylaws or by the Board of Directors. The members of the Board and their designees shall not receive compensation for their services on the Board.

1 of 1 references resolved to an enrolled provision