No Senator or Representative in Congress shall be a member of the Board of Governors of the Federal Reserve System or an officer or a director of a Federal reserve bank.
No director of class B shall be an officer, director, or employee of any bank.
No director of class C shall be an officer, director, employee, or stockholder of any bank.
Dec. 23, 1913, ch. 6, § 438 Stat. 255Aug. 23, 1935, ch. 61449 Stat. 704( (pars.), ; , title II, § 203(a), .)
Editorial Notes
Codification
section 301 of this titleSection is comprised of pars. 13 to 15 of section 4 of act . For classification to this title of other pars. of section 4, see Codification note set out under .
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.