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Type: Statute
Statute: 1971 ACT AS AMENDED
Title: Title VII Restructuring of System Institutions
Subtitle: Subtitle A Merger of Banks Within a District
Chapter Name:
U.S. Code Citation: 12 U.S.C. 2279a-1

12 U.S.C. 2279a-1 SEC. 7.1. BOARD OF DIRECTORS.
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.

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