Director means a person who serves on the board of directors of a regulated institution, except that this term does not include an advisory director who:
(1) Is not elected by the shareholders of the regulated institution;
(2) Is not authorized to vote on any matters before the board of directors or any committee thereof;
(3) Solely provides general policy advice to the board of directors and any committee thereof; and
(4) Has not been identified by the Board or Reserve Bank as a person who performs the functions of a director for purposes of this subpart.


12 CFR § 225.71

Scoping language

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