
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC245]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
     SUBCHAPTER II--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
 
Sec. 245. Vacancies during recess of Senate

    The President shall have power to fill all vacancies that may happen 
on the Board of Governors of the Federal Reserve System during the 
recess of the Senate by granting commissions which shall expire with the 
next session of the Senate.

(Dec. 23, 1913, ch. 6, Sec. 10 (par.), 38 Stat. 260; June 3, 1922, ch. 
205, 42 Stat. 620; Aug. 23, 1935, ch. 614, title II, Sec. 203(a), 49, 
Stat. 704.)

                          Codification

    Section is comprised of fifth par. of section 10 of act Dec. 23, 
1913. For classification to this title of other pars. of section 10, see 
Codification note set out under section 241 of this title.

                         Change of Name

    Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve 
Board to Board of Governors of the Federal Reserve System.
