§ 1761. Management

1,043 words·~5 min read·/usc/title-12/section-1761

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(a)Board of directors, credit committee, and supervisory committee; election to board The management of a Federal credit union shall be by a board of directors, a supervisory committee, and where the bylaws so provide, a credit committee. The board shall consist of an odd number of directors, at least five in number, to be elected annually by and from the members as the bylaws provide. Any vacancy occurring on the board shall be filled until the next annual election by appointment by the remainder of the directors.

(b)Membership on supervisory committee; names and addresses of officers and committee members The supervisory committee shall be appointed by the board of directors and shall consist of not less than three members nor more than five members, one of whom may be a director other than the compensated officer of the board. A record of the names and addresses of the executive officers, members of the supervisory committee, credit committee, and loan officers, shall be filed with the Administration within ten days after their election or appointment.

(c)Compensation No member of the board or of any other committee shall, as such, be compensated, except that reasonable health, accident, similar insurance protection, and the reimbursement of reasonable expenses incurred in the execution of the duties of the position shall not be considered compensation.

(June 26, 1934, ch. 750, title I, § 111, formerly § 11, 48 Stat. 1219; June 15, 1940, ch. 366, 54 Stat. 398; July 31, 1946, ch. 711, §§ 3–6, 60 Stat. 745; 1947 Reorg. Plan No. 1, § 401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948, ch. 711, §§ 1, 2, 62 Stat. 1091; Oct. 25, 1949, ch. 713, § 2, 63 Stat. 890; June 30, 1954, ch. 426, § 1, 68 Stat. 335; Aug. 24, 1954, ch. 905, §§ 1, 2, 68 Stat. 792; renumbered § 12 and amended Pub. L. 86–354, § 1, Sept. 22, 1959, 73 Stat. 632;

Pub. L. 88–353, § 2, July 2, 1964, 78 Stat. 269; Pub. L. 91–206, § 2(3), Mar. 10, 1970, 84 Stat. 49; renumbered title I, § 111, Pub. L. 91–468, § 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 93–495, title I, § 116, Oct. 28, 1974, 88 Stat. 1507; Pub. L. 95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681; Pub. L. 97–320, title V, § 520, Oct. 15, 1982, 96 Stat. 1531.)

Connections61 cite this · traces to 2

Cited by 61 sections · top 43

U.S. Code

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statutes-at-large

statute-compilations

Sec. 111
management

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U.S. Code

36 references not yet in our index

June 26, 1934, ch. 750
48 Stat. 1219
June 15, 1940, ch. 366
54 Stat. 398
July 31, 1946, ch. 711
60 Stat. 745
61 Stat. 952
June 29, 1948, ch. 711
62 Stat. 1091
Oct. 25, 1949, ch. 713, § 2
63 Stat. 890
June 30, 1954, ch. 426, § 1
68 Stat. 335
Aug. 24, 1954, ch. 905
68 Stat. 792
Pub. L. 86–354, § 1
73 Stat. 632
Pub. L. 88–353, § 2
78 Stat. 269
Pub. L. 91–206, § 2(3)
84 Stat. 49
Pub. L. 91–468, § 1(2)
84 Stat. 994
Pub. L. 93–495, title I, § 116
88 Stat. 1507
Pub. L. 95–630, title V, § 502(b)
92 Stat. 3681
Pub. L. 97–320, title V, § 520
96 Stat. 1531
Pub. L. 97–320
Pub. L. 95–630
Pub. L. 93–495
Pub. L. 91–206
Pub. L. 88–353
Pub. L. 86–354
section 509 of Pub. L. 95–630

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cites case law

§ 1761

Management

Fed. Reg.×47

Stat.×7

U.S.C.×4

C.F.R.×2

Stat. Comp.×1

U.S.C.§ 1752

U.S.C.§ 1751

ActJune 26, 1934, ch. 750

Stat.48 Stat. 1219

ActJune 15, 1940, ch. 366

Stat.54 Stat. 398

ActJuly 31, 1946, ch. 711

Cites 38 · showing 7Cited by 61 across 5 sources