Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
46 lines
2.0 KiB
Markdown
46 lines
2.0 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 2279a–1"
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description: "Board of directors"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "23"
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chapter_name: "FARM CREDIT SYSTEM"
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section: "2279a–1"
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citation: "12 U.S.C. § 2279a–1"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s2279a–1"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "15587fbb005d26fbad9701f16e5be571e2663a63ac9761369b6231a3d5ad009b"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "e0ec8a4e9d9408b5c459924bd512c2dc738b4dc10397370ec7fa0f382b8ede26"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 2279a–1 - Board of directors
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## Text
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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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(Pub. L. 92–181, title VII, § 7.1, as added Pub. L. 100–233, title IV, § 416, Jan. 6, 1988, 101 Stat. 1645; amended Pub. L. 100–399, title IV, § 408(c), Aug. 17, 1988, 102 Stat. 1001.)
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## Notes
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Editorial Notes
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Amendments1988—Pub. L. 100–399 struck out “for the district” in section catchline and amended text generally, revising and restating as a single unlettered paragraph provisions of former subsecs. (a) and (b).
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Statutory Notes and Related Subsidiaries
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Effective Date of 1988 AmendmentAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.
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