Title 12 — Banks and BankingRelease 119-73

§76 President of bank as member of board; chairman of board

Title 12 › Chapter CHAPTER 2— - NATIONAL BANKS › Subchapter SUBCHAPTER III— - DIRECTORS › § 76

Last updated Apr 6, 2026|Official source

Full Legal Text

Title 12, §76

Banks and Banking — Source: USLM XML via OLRC

The president of the bank shall be a member of the board and shall be the chairman thereof, but the board may designate a director in lieu of the president to be chairman of the board, who shall perform such duties as may be designated by the board.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification R.S. § 5150 derived from act June 3, 1864, ch. 106, § 9, 13 Stat. 102, which was the National Bank Act. See section 38 of this title.

Amendments

1927—Act Feb. 25, 1927, amended section generally. Prior to amendment, section read as follows: “One of the directors, to be chosen by the board, shall be president of the board.”

Reference

Citations & Metadata

Citation

12 U.S.C. § 76

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73