Title 12 — Banks and Banking
Chapter 2 — National Banks
§ 76. President of bank as member of board; chairman of board
Statutory text
The president of the bank shall be a member of the board and shall be the chairman thereof, but the board may designate a director in lieu of the president to be chairman of the board, who shall perform such duties as may be designated by the board.
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.
R.S. § 5150
Enacted · 12 U.S.C. § 76
R.S. § 5150
Unresolved: No Public Law or Statutes at Large citation in the Code source.
Source evidence
Code source credit
R.S. § 5150
0 of 1 references resolved to an enrolled provision · 1 unresolved
Editorial Notes
Codification
R.S. § 5150 derived from act June 3, 1864, ch. 106, § 9, 13 Stat. 102, which was the National Bank Act. See section 38 of this title.
Amendments
1927—Act , amended section generally. Prior to amendment, section read as follows: “One of the directors, to be chosen by the board, shall be president of the board.”
Credits
1927 · 2 acts
- R.S. § 5150
- 1927Feb. 25, 1927, ch. 191, § 6, 44 Stat. 1228.
Show as published
(R.S. § 5150; Feb. 25, 1927, ch. 191, § 6, 44 Stat. 1228.)