42 USC 8103 - Board of Directors

U.S Code last checked for updates: May 03, 2024

§ 8103.

Board of Directors

(a)

Membership

The corporation shall be under the direction of a board of directors made up of the following members:

(1)

the Chairman of the Federal Home Loan Bank Board or a member of the Federal Home Loan Bank Board to be designated by the Chairman;

(2)

the Secretary of Housing and Urban Development;

(3)

the Chairman of the Board of Governors of the Federal Reserve System, or a member of the Board of Governors of the Federal Reserve System to be designated by the Chairman;

(4)

the Chairman of the Federal Deposit Insurance Corporation or the appointive member of the Board of Directors of the Federal Deposit Insurance Corporation if so designated by the Chairman;

(5)

the Comptroller of the Currency; and

(6)

the Chairman of the National Credit Union Administration or a member of the Board of the National Credit Union Administration to be designated by the Chairman.

(b)

Election of chairman

(c)

Terms of office

(d)

Compensation and expenses

(e)

Bylaws, policies and administrative provisions

(f)

Director absences; designated representatives

(g)

Quorum

(h)

Application of other laws

(i)

Meetings of board

(Pub. L. 95–557, title VI, § 604, Oct. 31, 1978, 92 Stat. 2115; Pub. L. 97–320, title VII, § 710(a), Oct. 15, 1982, 96 Stat. 1544; Pub. L. 100–242, title V, § 520(a), Feb. 5, 1988, 101 Stat. 1938; Pub. L. 100–628, title X, § 1085, Nov. 7, 1988, 102 Stat. 3278.)

cite as: 42 USC 8103