§ 8103. 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. 1978

   Housing and Community Development Amendments of 1978

   Pub. L. 95–557 title VI § 604 · 92 Stat. 2080

   Enacted · 42 U.S.C. § 8103

   Pub. L. 95–557, title VI, § 604, Oct. 31, 1978, 92 Stat. 2115

   Source evidence

   Code source credit
   Pub. L. 95–557, title VI, § 604, Oct. 31, 1978, 92 Stat. 2115

   Enacted provision · exact public law section
   Sec. 604. board of directors; establishment (a) The corporation shall be under the direction of a board Membership. 42 USC 8103. of directors made up of the following members: (1) the Chairman of the Federal Home Loan Bank Board; (2) the Secretary of Housing and Urban Development; (3) a member of the Board of Governors of the Federal Reserve System, to be designated by the Chairman of the Board of Governors of the Federal Reserve System; (4) the Chairman of the Federal Deposit Insurance Corporation; (5) the Comptroller of the Currency; and (6) the Administrator of the National Credit Union Administration. (b) The Board shall elect from among its members a chairman who shall serve for a term of two years, except that the Chairman of the Federal Home Loan Bank Board shall serve as Chairman of the Board of Directors for the first such two-year term. (c) Each director of the corporation shall serve ex officio during the period he holds the office to which he is appointed by the President. (d) Compensation and expenses. The directors of the corporation, as full-time officers of the United States, shall serve without additional compensation but shall be reimbursed for travel, subsistence, and other necessary expenses incurred in the performance of their duties as directors of the corporation. (e) The directors of the corporation shall adopt such bylaws, policies, and administrative provisions as are necessary to the functioning of the corporation and consistent with the provisions of this title. (f) The presence of a majority of the board members shall constitute a quorum. (g) The corporation shall be subject to the provisions of section 552 of title 5, United States Code. (h) All meetings of the board of directors will be conducted in accordance with the provisions of section 552b of title 5, United States Code.

2. 1982

   Garn-St Germain Depository Institutions Act of 1982

   Pub. L. 97–320 title VII § 710(a) · 96 Stat. 1469

   1. Added · 42 U.S.C. § 8103(f)(i)

      Pub. L. 97–320 added subsec. (f)

   2. Redesignated · 42 U.S.C. § 8103(f)(i)

      Pub. L. 97–320 redesignated former subsecs. (f) to (h) as (g) to (i), respectively, and in subsec. (g) inserted “, or their representatives as provided in subsection (f),”

   Source evidence

   Code amendment note
   Subsecs. (f) to (i). Pub. L. 97–320 added subsec. (f), redesignated former subsecs. (f) to (h) as (g) to (i), respectively, and in subsec. (g) inserted “, or their representatives as provided in subsection (f),”.

   Enacted provision · exact public law section
   (a) Section 604 of the Neighborhood Reinvestment Corporation 42 USC 8103. Act (Public Law 95–557) is amended— (1) by redesignating subsections (f), (g), and (h) as subsections (g), (h), and (i), respectively, and by inserting after subsection (e) the following: “(f) A director who is necessarily absent from a meeting of the board, or of a committee of the board, may participate in such meeting through a duly designated representative who is serving, pursuant to appointment by the President of the United States, by and with the advice and consent of the Senate, in the same department, agency, corporation, or instrumentality as the absent director, or in the case of the Comptroller of the Currency, through a duly designated Deputy Comptroller.”; and (2) by inserting in section 604(g), as redesignated, after “members” a comma and the words “or their representatives as provided in subsection (f),”.

3. 1988

   Housing and Community Development Act of 1987

   Pub. L. 100–242 § 520(a)(1) · 101 Stat. 1815

   Inserted · 42 U.S.C. § 8103(a)(1)

   Pub. L. 100–242, § 520(a)(1), inserted “or a member of the Federal Home Loan Bank Board to be designated by the Chairman” before semicolon

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 100–242, § 520(a)(1), inserted “or a member of the Federal Home Loan Bank Board to be designated by the Chairman” before semicolon.

   Enacted provision · exact public law section
   (1) by inserting before the semicolon in subsection (a)(1) the following: “or a member of the Federal Home Loan Bank Board to be designated by the Chairman”;

4. 1988

   Housing and Community Development Act of 1987

   Pub. L. 100–242 § 520(a)(2) · 101 Stat. 1815

   1. Added · 42 U.S.C. § 8103(a)(3)

      Pub. L. 100–242, § 520(a)(2), added par. (3)

   2. Struck · 42 U.S.C. § 8103(a)(3)

      Pub. L. 100–242, § 520(a)(2), struck out former par. (3) which read as follows: “a member of the Board of Governors of the Federal Reserve System, to be designated by the Chairman of the Board of Governors of the Federal Reserve System;”

   Source evidence

   Code amendment note
   Subsec. (a)(3). Pub. L. 100–242, § 520(a)(2), added par. (3) and struck out former par. (3) which read as follows: “a member of the Board of Governors of the Federal Reserve System, to be designated by the Chairman of the Board of Governors of the Federal Reserve System;”.

   Enacted provision · exact public law section
   (2) by striking out subsection (a)(3) and inserting in lieu thereof the following: “(3) the Chairman of the Board of Governors of the Federal Reserve System, or a member of the Board of Governors of the Federal Reserve System to be designated by the Chairman;”;

5. 1988

   Housing and Community Development Act of 1987

   Pub. L. 100–242 § 520(a)(3) · 101 Stat. 1815

   Inserted · 42 U.S.C. § 8103(a)(4)

   Pub. L. 100–242, § 520(a)(3), inserted “or the appointive member of the Board of Directors of the Federal Deposit Insurance Corporation if so designated by the Chairman” before semicolon

   Source evidence

   Code amendment note
   Subsec. (a)(4). Pub. L. 100–242, § 520(a)(3), inserted “or the appointive member of the Board of Directors of the Federal Deposit Insurance Corporation if so designated by the Chairman” before semicolon.

   Enacted provision · exact public law section
   (3) by inserting before the semicolon in subsection (a)(4) the following: “or the appointive member of the Board of Directors of the Federal Deposit Insurance Corporation if so designated by the Chairman”; and

6. 1988

   Housing and Community Development Act of 1987

   Pub. L. 100–242 § 520(a)(4) · 101 Stat. 1815

   1. Substituted · 42 U.S.C. § 8103(a)(6)

      Pub. L. 100–242, § 520(a)(4), substituted “Chairman” for “Administrator”

   2. Inserted · 42 U.S.C. § 8103(a)(6)

      Pub. L. 100–242, § 520(a)(4), inserted “or a member of the Board of the National Credit Union Administration to be designated by the Chairman.” before period

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 100–242, § 520(a)(4), substituted “Chairman” for “Administrator” and inserted “or a member of the Board of the National Credit Union Administration to be designated by the Chairman.” before period.

   Enacted provision · exact public law section
   (4) by striking out “Administrator” in subsection (a)(6) and inserting in lieu thereof the word “Chairman”; and by inserting after “Administration” the following: “or a member of the Board of the National Credit Union Administration to be designated by the Chairman.”.

7. 1988

   Stewart B. McKinney Homeless Assistance Amendments Act of 1988

   Pub. L. 100–628 title X § 1085 · 102 Stat. 3224

   Struck · 42 U.S.C. § 8103(a)(6)

   Pub. L. 100–628 struck out second of the two periods at end

   Source evidence

   Code amendment note
   Subsec. (a)(6). Pub. L. 100–628 struck out second of the two periods at end.

   Enacted provision · exact public law section
   SEC. 1085. NEIGHBORHOOD REINVESTMENT CORPORATION. Section 604(a)(6) of the Neighborhood Reinvestment Corporation Act (42 U.S.C. 8103(a)(6)) is amended by striking the second of the two periods at the end.

10 of 10 references resolved to an enrolled provision