
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: 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.''
