Title 12, Banks and BankingRelease 119-102
§76 President of Bank as Member of Board; Chairman of Board
Title 12 › CHAPTER 2 — NATIONAL BANKS › SUBCHAPTER III — DIRECTORS › § 76
Summary
The bank president must be a board member and serve as chair unless the board appoints another director to be chair.
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
Aug 21, 2026
Release point: 119-102