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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 303 Qualifications and disabilities us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 303 12 U.S.C. § 303 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s303 data/legal/raw/us/code/title-12/usc12.xml 751c99aa45c165393812ed0c58962f430a3563bfcf11b94a1bfc63f4c7c28cce e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 06ea56fe2fdb554b57405ea25445bcf95dbe7450bd9dfb01e12696e2665a69ed 2026-07-04 official
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12 U.S.C. § 303 - Qualifications and disabilities

Text

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, § 4 (pars.), 38 Stat. 255; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

Notes

Editorial Notes

Codification Section is comprised of pars. 13 to 15 of section 4 of act Dec. 23, 1913. For classification to this title of other pars. of section 4, see Codification note set out under section 301 of this title.

Statutory Notes and Related Subsidiaries

Change of Name Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.