12 U.S.C. § 2092

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 2092 - Board of directors

Each Federal land bank association shall elect from its voting shareholders a board of directors of such number, for such terms, in such manner, and with such qualifications as may be required by its bylaws except that, at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, stockholder, or agent of a System institution.

12 U.S.C. § 2092

Pub. L. 92-181, title II, §2.11, as added Pub. L. 100-233, title IV, §401, Jan. 6, 1988, 101 Stat. 1635; amended Pub. L. 102-237, title V, §502(d), Dec. 13, 1991, 105 Stat. 1868.

EDITORIAL NOTES

PRIOR PROVISIONSA prior section 2092, Pub. L. 92-181, title II, §2.11, Dec. 10, 1971, 85 Stat. 598, related to board of directors, prior to the general amendment of this subchapter by Pub. L. 100-233, §401.

AMENDMENTS1991- Pub. L. 102-237 substituted "stockholder, or agent" for "or stockholder".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATEPub. L. 100-233, title IV, §401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.

Director

The term "Director" means the Director of the Bureau.