Us Code § 40504 - Governing body
Full text of Us Code United States Code § 40504 — Governing body, with citation guidance and answers to common questions.
§ 40504. Governing body
(a)
(2) The number of directors, their manner of election (including the filling of vacancies), and their term of office are as provided in the bylaws. However, the board shall have at least 9 directors.
(3) The board shall meet at least annually. Each director has one vote on matters decided by the board.
(4) The president of the corporation is the chairman of the board.
(b)
(2) The manner of election, term of office, duties, and powers of the officers are as provided in the bylaws.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1333.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 40504(a)(1) | 36:797(a), (c) (1st sentence words before 3d comma). | Aug. 14, 1958, Pub. L. 85–642, §§7, 8, 72 Stat. 599. |
| 40504(a)(2) | 36:797(b), (c) (1st sentence words between 3d and 4th commas). | |
| 40504(a)(3) | 36:797(c) (last sentence). | |
| 40504(a)(4) | 36:797(c) (2d sentence). | |
| 40504(b) | 36:797(c) (1st sentence words after 4th comma). 36:798. |
In subsection (a)(1), the text of 36:797(a) (12th–last words) is omitted as obsolete.
In subsection (b)(2), the words "duties, and powers" are substituted for "powers" in 36:798(b) and for "duties" in 36:798(c) to eliminate unnecessary words.
About This Section
36 U.S.C. § 40504 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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