12 CFR 7.2012
§ 7.2012 President as director of a national bank.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 7.2012, § 7.2012 President as director of a national bank, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/42988
- Permanent ID
ys:prov:42988@1- SHA-256
7af35e7ced4966e6df0d289db024d68b0e4fec51efa4e6863c87d86cd9cc14e5
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Pursuant to 12 U.S.C. 76, the person serving as, or in the function of, president of a national bank, regardless of title, must be a member of the board of directors. A director other than the person serving as, or in the function of, president may be elected chairman of the board.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.