12 CFR 7.2004
§ 7.2004 Honorary national bank directors or advisory boards.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 7.2004, § 7.2004 Honorary national bank directors or advisory boards, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/42980
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Full text
A national bank may appoint honorary or advisory members of a board of directors to act in advisory capacities without voting power or power of final decision in matters concerning the business of the bank. Any listing of honorary or advisory directors must distinguish between them and the bank's board of directors or indicate their advisory status.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.