Title 42, The Public Health and WelfareRelease 119-102
§3934 Board of Directors; Membership; Appointment; Term
Title 42 › CHAPTER 49 — NATIONAL HOUSING PARTNERSHIPS › § 3934
Summary
Creates a 15-member board: twelve elected by the stockholders and three appointed by the President with Senate approval, taking office the same day. Appointees serve three-year terms or until successors are ready; the first appointees serve 1, 2, and 3 years, and replacements fill only the remaining term.
Full Legal Text
Title 42, §3934
The Public Health and Welfare, Source: USLM XML via OLRC
The corporation shall have a board of directors (hereinafter in this section referred to as the “board”), consisting of fifteen members. Three members of the board shall be appointed by the President of the United States, by and with the advice and consent of the Senate, effective on the date on which the other members are elected, and for terms of three years or until their successors have been appointed and have qualified, except that the first three members of the board so appointed shall continue in office for terms of one, two, and three years, respectively, and any member so appointed to fill a vacancy shall be appointed only for the unexpired term of the director whom he succeeds. Twelve members of the board shall be elected by the stockholders.
Reference
Citations & Metadata
Citation
42 U.S.C. § 3934
Title 42, The Public Health and Welfare
Last Updated
Aug 21, 2026
Release point: 119-102