36 U.S. Code § 220304 - Governing body

(a) Board of Trustees.—
(1) The board of trustees is the governing body of the corporation. The board is responsible for the control of all funds and affairs of the corporation.
(2) Exclusive of ex officio and honorary members, the board shall consist of at least 12 but not more than 40 trustees, one of whom shall be elected chairman. Trustees shall be elected by the board of trustees for a term of 4 years. A trustee may not be reelected as a trustee within one year of the expiration of the prior term, except by the unanimous vote of the trustees present and voting. A trustee may be removed at any time, with or without cause, by a two-thirds vote of the other trustees.
(3) The officers of the corporation are ex officio members of the board with all the rights and privileges of trustees, including the right to vote.
(4) The board shall meet at least once a year in the Capitol of the United States. The board may meet at other times as decided by the chairman. A meeting may be held only at a time and place stated in the bylaws or on 30 days’ written notice.
(b) Officers.—
(1) The officers of the corporation are a president, 5 vice presidents, a treasurer, and a secretary. The president is the chief executive officer.
(2) The officers shall be elected annually by the board of trustees and continue in office at the pleasure of the board.
(3) The duties of the officers are the usual duties pertaining to their offices and any additional duties delegated by the board.
(4) Officers may be compensated for their services, and reimbursed for actual expenses, in amounts decided by the board.
(c) Employees.— The board of trustees may employ an executive secretary and other personnel needed to assist the board and the officers to carry out the activities of the corporation. Employees serve at the pleasure of the board. The board shall prescribe the compensation and duties of employees.

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1463.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
220304(a)(1)
36:1207(a) (1st–21st words).
Oct. 20, 1978, Pub. L. 95–493, §§ 7, 8, 92 Stat. 1645.
220304(a)(2)
36:1207(a) (22d–last words), (b), (d).
220304(a)(3)
36:1208(b) (1st sentence).
220304(a)(4)
36:1207(c).
220304(b)(1)
36:1208(a).
220304(b)(2)
36:1208(c).
220304(b)(3)
36:1208(d).
220304(b)(4)
36:1208(b) (last sentence).
220304(c)
36:1208(e).

In this section, the word “active” is omitted as unnecessary.
In subsection (a)(1), the words “The board of trustees is the governing body of the corporation” are added for clarity and consistency in the revised title. The words “is responsible for” are substituted for “shall be vested in” for consistency in the revised title. The word “management” is omitted as included in “control”.
In subsection (a)(3), the words “During their respective terms of office” are omitted as unnecessary.
In subsection (a)(4), the words “at Washington, District of Columbia” and “in advance of any such meeting” are omitted as unnecessary.
In subsection (b)(4), the words “other remuneration” as [sic] are omitted as unnecessary.
In subsection (c), the word “activities” is substituted for “programs and business” to eliminate unnecessary words.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

36 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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