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.
Pub. L. 92–181, title VII, § 7Pub. L. 100–233, title IV, § 416101 Stat. 1645Pub. L. 100–399, title IV, § 408(c)102 Stat. 1001(.1, as added , , ; amended , , .)
Editorial Notes
Amendments
Pub. L. 100–3991988— struck 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).
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Pub. L. 100–399Pub. L. 100–233section 1001(a) of Pub. L. 100–399section 2002 of this titleAmendment by effective as if enacted immediately after enactment of , which was approved , see , set out as a note under .