§ 2270. Replacement of suspended or removed directors

147 words·~1 min read·/usc/title-12/section-2270

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If at any time, because of the suspension or removal of one or more directors pursuant to section 2264 or 2265 of this title, there shall be on the board of directors of a System institution less than a quorum of directors not so suspended, the Chairman shall appoint persons to serve temporarily as directors in their place and stead so as to establish a quorum until such time as those who have been removed are reinstated or their respective successors are duly elected and take office.

(Pub. L. 92–181, title V, § 5.34, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701.)

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Cited by 2 sections

statutes-at-large

Public Law 99–205
To amend the Farm Credit Act of 1971, to restructure and reform the Farm Credit System, and for other purposes

statute-compilations

Sec. 5.34
Replacement of Suspended or Removed Directors

Traces to 1 document

U.S. Code

DEFINITIONS.
§ 2001

4 references not yet in our index

Pub. L. 92–181, title V, § 5
Pub. L. 99–205, title II, § 204
99 Stat. 1701
section 401 of Pub. L. 99–205

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cites case law

§ 2270

Replacement of suspended or removed directors

Stat. Comp.×1

Stat.×1

U.S.C.§ 2001

Pub. L.Pub. L. 92–181, title V, § 5

Pub. L.Pub. L. 99–205, title II, § 204

Stat.99 Stat. 1701

Pub. L.section 401 of Pub. L. 99–205

Cites 5Cited by 2 across 2 sources