12 U.S.C. § 71
Election
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 71, Election, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437120
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Full text
The affairs of each association shall be managed by not less than five directors, who shall be elected by the shareholders at a meeting to be held at any time before the association is authorized by the Comptroller of the Currency to commence the business of banking; and afterward at meetings to be held on such day of each year as is specified therefor in the bylaws. The directors shall hold office for a period of not more than 3 years, and until their successors are elected and have qualified. In accordance with regulations issued by the Comptroller of the Currency, a national bank may adopt bylaws that provide for staggering the terms of its directors.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- American Homeownership and Economic Opportunity Act of 2000House: no recorded tallySenate: no recorded tally