36 U.S.C. § 154104Chapter 1541

§154104. Governing body

Primary source

Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.

Full Text

§154104. Governing body

(a) Board of Directors.—(1) The board of directors is the governing body of the corporation. The board is responsible for the general policies and program of the corporation and the control of all funds of the corporation.

(2) The number of directors, their manner of selection (including the filling of vacancies), and their term of office are as provided in the constitution and bylaws. However, the board shall have at least 10 but not more than 25 directors.

(b) Officers.—(1) The officers of the corporation are a president, one or more vice presidents as provided in the constitution and bylaws, a secretary, a treasurer, and other officers as provided in the constitution and bylaws.

(2) The manner of election, term of office, and duties of the officers are as provided in the constitution and bylaws.

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
154104(a)	36:1047.	Sept. 10, 1962, Pub. L. 87–655, §§7, 8, 76 Stat. 532.
154104(b)	36:1048.

Subsection (a) is substituted for the source provision for consistency in the revised title. The text of 36:1047(a) and the word "Thereafter" in 36:1047(b) are omitted as obsolete.

Last amended: December 31, 2024

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