§ 6759. Presidential oversight
312 words·~1 min read·
/usc/title-15/section-6759A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Removal of Board If the President determines that the Association is acting in a manner contrary to the interests of the public or the purposes of this subchapter or has failed to perform its duties under this subchapter, the President may remove the entire existing Board for the remainder of the term to which the Board members were appointed and appoint, in accordance with section 6754 of this title and with the advice and consent of the Senate, in accordance with the procedures established under Senate Resolution 116 of the 112th Congress, new Board members to fill the vacancies on the Board for the remainder of the terms.
(b)Removal of Board member The President may remove a Board member only for neglect of duty or malfeasance in office.
(c)Suspension of bylaws and standards and prohibition of actions Following notice to the Board, the President, or a person designated by the President for such purpose, may suspend the effectiveness of any bylaw or standard, or prohibit any action, of the Association that the President or the designee determines is contrary to the purposes of this subchapter.
(Pub. L. 106–102, title III, § 329, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.)
Connections6 cite this · traces to 4
Cited by 6 sections
statute-compilations
statutes-at-large
- Public Law 114–1To extend the termination date of the Terrorism Insurance Program established under the Terrorism Risk Insurance Act of 2002, and for other purposes
- Public Law 106–102To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, insurance companies, and other financial service providers, and for other purposes
Traces to 4 documents
3 references not yet in our index
- Pub. L. 106–102, title III, § 329
- 129 Stat. 25
- 113 Stat. 1430
Citation graph
cites case law
§ 6759
Presidential oversight
Stat. Comp.×2
Stat.×2
Pub. L.×1
U.S.C.×1
Pub. L.Pub. L. 106–102, title III, § 329
Stat.129 Stat. 25
Stat.113 Stat. 1430
Cites 7Cited by 6 across 4 sources