Each Farm Credit 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.
Pub. L. 92–181, title I, § 1Pub. L. 100–233, title IV, § 401101 Stat. 1622Pub. L. 100–399, title IV, § 401(c)102 Stat. 995(.4, as added , , ; amended , , .)
Editorial Notes
Prior Provisions
Pub. L. 92–181, title I, § 185 Stat. 584Pub. L. 96–592, title I, § 10194 Stat. 3437Pub. L. 99–205, title II, § 205(d)(1)99 Stat. 1703Pub. L. 100–233, title VII, § 705(a)101 Stat. 1706Pub. L. 100–399, title VI, § 604102 Stat. 1006Pub. L. 100–233, § 401A prior section 2012, .4, , ; , , ; , , ; , title VIII, § 802(b), , , 1710; , , , related to corporate existence and general corporate powers, prior to the general amendment of this subchapter by .
Amendments
Pub. L. 100–3991988— struck out “from its voting stockholders” after “shall elect”.
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Pub. L. 100–399section 401 of Pub. L. 100–233section 1001(b) of Pub. L. 100–399section 2002 of this titleAmendment by effective immediately after amendment made by , which was effective 6 months after , see , set out as a note under .
Effective Date
Pub. L. 100–233, title IV, § 401101 Stat. 1622, , , provided that this section is effective 6 months after .