U.S. Code » Title 12 » Chapter CHAPTER 3— FEDERAL RESERVE SYSTEM › Subchapter SUBCHAPTER VII— DIRECTORS OF FEDERAL RESERVE BANKS; RESERVE AGENTS AND ASSISTANTS

12 U.S.C. § 303

Qualifications and disabilities

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No Senator or Representative in Congress shall be a member of the Board of Governors of the Federal Reserve System or an officer or a director of a Federal reserve bank.

No director of class B shall be an officer, director, or employee of any bank.

No director of class C shall be an officer, director, employee, or stockholder of any bank.

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2022–2022 · leading case: Custodia Bank Inc v. Fed. Reserve Bd. of Governors, 640 F. Supp. 3d 1169 (D. Wyo. 2022).
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Custodia Bank Inc v. Fed. Reserve Bd. of Governors, 640 F. Supp. 3d 1169 (D. Wyo. 2022). “See 12 U.S.C. § 303 . These six directors are the Class B and Class C directors.”
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