§ 76. — President of bank as member of board; chairman of board.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC76]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER III--DIRECTORS
Sec. 76. President of bank as member of board; chairman of board
The president of the bank shall be a member of the board and shall
be the chairman thereof, but the board may designate a director in lieu
of the president to be chairman of the board, who shall perform such
duties as may be designated by the board.
(R.S. Sec. 5150; Feb. 25, 1927, ch. 191, Sec. 6, 44 Stat. 1228.)
Codification
R.S. Sec. 5150 derived from act June 3, 1864, ch. 106, Sec. 9, 13
Stat. 102, which was the National Bank Act. See section 38 of this
title.
Amendments
1927--Act Feb. 25, 1927, amended section generally. Prior to
amendment, section read as follows: ``One of the directors, to be chosen
by the board, shall be president of the board.''
