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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. § 2092 Board of directors us united_states_code code_section 12 BANKS AND BANKING 23 FARM CREDIT SYSTEM 2092 12 U.S.C. § 2092 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/s2092 data/legal/raw/us/code/title-12/usc12.xml 7d1bf2bc22bc1592c3dafbf97e72d8d208c90a68d15933ce4070f8f10f8356eb e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 0ea1cc42919835b183a3c4b6ff53eff63ce8dae62255a2e516c8b081efbef381 2026-07-04 official
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12 U.S.C. § 2092 - Board of directors

Text

Each Federal land bank association shall elect from its voting shareholders a board of directors of such number, for such terms, in such manner, and with such qualifications as may be required by its bylaws except that, at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, stockholder, or agent of a System institution.

(Pub. L. 92181, title II, § 2.11, as added Pub. L. 100233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1635; amended Pub. L. 102237, title V, § 502(d), Dec. 13, 1991, 105 Stat. 1868.)

Notes

Editorial Notes

Prior ProvisionsA prior section 2092, Pub. L. 92181, title II, § 2.11, Dec. 10, 1971, 85 Stat. 598, related to board of directors, prior to the general amendment of this subchapter by Pub. L. 100233, § 401.

Amendments1991—Pub. L. 102237 substituted “stockholder, or agent” for “or stockholder”.

Statutory Notes and Related Subsidiaries

Effective DatePub. L. 100233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.