12 U.S. Code § 2279a–1 - Board of directors
Each merged bank shall elect a board of directors of such number, for such term, in such manner, and with such qualifications, as may be required in its bylaws, except that at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, or stockholder of a System institution.
Source(Pub. L. 92–181, title VII, § 7.1, as added Pub. L. 100–233, title IV, § 416,Jan. 6, 1988, 101 Stat. 1645; amended Pub. L. 100–399, title IV, § 408(c),Aug. 17, 1988, 102 Stat. 1001.)
1988—Pub. L. 100–399struck out “for the district” in section catchline and amended text generally, revising and restating as a single unlettered paragraph provisions of former subsecs. (a) and (b).
Effective Date of 1988 Amendment