Title 12 — Banks and BankingRelease 119-73not60
§2270 Replacement of Suspended or Removed Directors
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter V— FARM CREDIT ADMINISTRATION ORGANIZATION › Part C— Enforcement Powers of Farm Credit Administration › § 2270
Summary
Chairman must appoint temporary directors when suspensions or removals under 2264 or 2265 leave fewer than a quorum, until removed directors return or successors take office.
Full Legal Text
Title 12, §2270
Banks and Banking — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an
Effective Date
of 1985 Amendment note under section 2001 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2270
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60