§ 2284. — Board of Directors.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 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.)