12 U.S.C. § 2092
Board of directors
Each Federal land bank association shall elect from its voting shareholders a board of directors of such number, for such terms, in such manner, and with such qualifications as may be required by its bylaws except that, at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, stockholder, or agent of a System institution.
Notes of Decisions
Cited in 2
cases, 1985–1986 · leading case: South Cent. Iowa Prod. Credit Ass'n v. Scanlan, 380 N.W.2d 699 (Iowa 1986).
South Cent. Iowa Prod. Credit Ass'n v. Scanlan, 380 N.W.2d 699 (Iowa 1986). “12 U.S.C. §§ 2092 , 2093. South Central employees are neither federal employees nor supervised by federal employees.”
Bailey v. Fed. Intermediate Credit Bank, 608 F. Supp. 1009 (W.D. Mo. 1985). “12 U.S.C. § 2092 ; 12 CFR 611.1080. Congressional concern about furnishing “sound, adequate and constructive credit” was reflected in the requirement that the FCA and credit banks regulate and control the organization and operations of associations, the primary lenders in the…”
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