GroundRules
12 CFR 1261.13: Ineligible Bank directors.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY
- SUBCHAPTER D—FEDERAL HOME LOAN BANKS
- PART 1261—FEDERAL HOME LOAN BANK DIRECTORS
- Subpart B—Federal Home Loan Bank Boards of Directors: Eligibility and Elections
Upon a determination by FHFA or a Bank that any director of the Bank no longer satisfies the eligibility requirements set forth in the Bank Act or this subpart, or has failed to comply with the reporting requirements of § 1261.12, the directorship shall immediately become vacant. Any director that is determined to have failed to comply with any of these requirements shall not continue to serve as a Bank director. Whenever a Bank makes such a determination, the Bank promptly shall notify the Bank director and FHFA in writing.
Collected 2026-08-27T02:24:16Z. Source file · JSON