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.
Pub. L. 92–181, title II, § 2Pub. L. 100–233, title IV, § 401101 Stat. 1635Pub. L. 102–237, title V, § 502(d)105 Stat. 1868(.11, as added , , ; amended , , .)
Editorial Notes
Prior Provisions
Pub. L. 92–181, title II, § 285 Stat. 598Pub. L. 100–233, § 401A prior section 2092, .11, , , related to board of directors, prior to the general amendment of this subchapter by .
Amendments
Pub. L. 102–2371991— substituted “stockholder, or agent” for “or stockholder”.
Statutory Notes and Related Subsidiaries
Effective Date
Pub. L. 100–233, title IV, § 401101 Stat. 1622, , , provided that this section is effective 6 months after .