
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2284]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 24--FEDERAL FINANCING BANK
 
Sec. 2284. Board of Directors

    (a) The Bank shall have a Board of Directors consisting of five 
persons, one of whom shall be the Secretary of the Treasury as Chairman 
of the Board, and four of whom shall be appointed by the President from 
among the officers or employees of the Bank or of any Federal agency. 
The Chairman and each other member of the Board may designate some other 
officer or employee of the Government to serve in his place.
    (b) The Board of Directors shall meet at the call of its Chairman. 
The Board shall determine the general policies which shall govern the 
operations of the Bank. The Chairman of the Board shall select and 
effect the appointment of qualified persons to fill such offices as may 
be provided for in the bylaws, and such persons shall be the executive 
officers of the Bank and shall discharge such executive functions, 
powers, and duties as may be provided for in the bylaws or by the Board 
of Directors. The members of the Board and their designees shall not 
receive compensation for their services on the Board.

(Pub. L. 93-224, Sec. 5, Dec. 29, 1973, 87 Stat. 937.)
