§ 3303. — Financial Institutions Examination Council.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3303]
TITLE 12--BANKS AND BANKING
CHAPTER 34--FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Sec. 3303. Financial Institutions Examination Council
(a) Establishment; composition
There is established the Financial Institutions Examination Council
which shall consist of--
(1) the Comptroller of the Currency,
(2) the Chairman of the Board of Directors of the Federal
Deposit Insurance Corporation,
(3) a Governor of the Board of Governors of the Federal Reserve
System designated by the Chairman of the Board,
(4) the Director, Office of Thrift Supervision \1\
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\1\ So in original. Probably should be followed by ``, and''.
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(5) the Chairman of the National Credit Union Administration
Board.
(b) Chairmanship
The members of the Council shall select the first chairman of the
Council. Thereafter the chairmanship shall rotate among the members of
the Council.
(c) Term of office
The term of the Chairman of the Council shall be two years.
(d) Designation of officers and employees
The members of the Council may, from time to time, designate other
officers or employees of their respective agencies to carry out their
duties on the Council.
(e) Compensation and expenses
Each member of the Council shall serve without additional
compensation but shall be entitled to reasonable expenses incurred in
carrying out his official duties as such a member.
(Pub. L. 95-630, title X, Sec. 1004, Nov. 10, 1978, 92 Stat. 3694; Pub.
L. 101-73, title VII, Sec. 744(a)(2), Aug. 9, 1989, 103 Stat. 438.)
Amendments
1989--Subsec. (a)(4). Pub. L. 101-73 substituted ``Director, Office
of Thrift Supervision'' for ``Chairman of the Federal Home Loan Bank
Board, and''.
