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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. § 2270 Replacement of suspended or removed directors us united_states_code code_section 12 BANKS AND BANKING 23 FARM CREDIT SYSTEM 2270 12 U.S.C. § 2270 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/s2270 data/legal/raw/us/code/title-12/usc12.xml e966851c8d80bb223d339ee8824c67324071e9a71d204413017f84a22d0f342c e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 683520575c2bbf005e269cc58d7b5235cd596e8226cac817747e5923d2f33981 2026-07-04 official
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12 U.S.C. § 2270 - Replacement of suspended or removed directors

Text

If at any time, because of the suspension or removal of one or more directors pursuant to section 2264 or 2265 of this title, there shall be on the board of directors of a System institution less than a quorum of directors not so suspended, the Chairman shall appoint persons to serve temporarily as directors in their place and stead so as to establish a quorum until such time as those who have been removed are reinstated or their respective successors are duly elected and take office.

(Pub. L. 92181, title V, § 5.34, as added Pub. L. 99205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701.)

Notes

Statutory Notes and Related Subsidiaries

Effective DateSection effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.