Appointment
Term; termination and reappointment
The term of office for the Governor and the Alternate Governor shall be five years, subject at any time to termination of appointment or to reappointment. The Governor and Alternate Governor shall remain in office until a successor has been appointed.
Compensation and expenses
No person shall be entitled to receive any salary or other compensation from the United States for services as a Governor or Alternate Governor, except for reasonable expenses to attend meetings of the Board of Governors.
Voting
The Governor, or in the Governor’s absence the Alternate Governor, on the instructions of the President, shall cast the votes of the United States for the Director to represent the United States in the Bank.
Pub. L. 97–35, title XIII, § 133395 Stat. 741Pub. L. 101–513, title V, § 562(b)(3)104 Stat. 2034Pub. L. 112–166, § 2(z)(1)126 Stat. 1289(, , ; , , ; , , .)
Editorial Notes
Amendments
Pub. L. 112–1662012— substituted “The President shall appoint a Governor and an Alternate Governor of the Bank—” and pars. (1) and (2) for “The President, by and with the advice and consent of the Senate, shall appoint a Governor, an Alternate Governor, and a Director of the Bank.” in subsec. (a), redesignated second and third sentences of subsec. (a) as (b), and redesignated former subsecs. (b) and (c) as (c) and (d), respectively.
Pub. L. 101–5131990—Subsec. (a). substituted “Governor, an Alternate Governor, and a Director” for “Governor and an Alternate Governor”.
Statutory Notes and Related Subsidiaries
Effective Date of 2012 Amendment
Pub. L. 112–166section 6(a) of Pub. L. 112–166section 113 of Title 6Amendment by effective 60 days after , and applicable to appointments made on and after that effective date, including any nomination pending in the Senate on that date, see , set out as a note under , Domestic Security.
Executive Documents
Delegation of Functions
Functions of President under subsec. (c) delegated to Secretary of the Treasury, see Ex. Ord. No. 12403, , 48 F.R. 6087.