{"data":{"id":"us/12-u.s.c.-71","jurisdiction":"us","citation":"12 U.S.C. § 71","heading":"Election","body":"The affairs of each association shall be managed by not less than five directors, who shall be elected by the shareholders at a meeting to be held at any time before the association is authorized by the Comptroller of the Currency to commence the business of banking; and afterward at meetings to be held on such day of each year as is specified therefor in the bylaws. The directors shall hold office for a period of not more than 3 years, and until their successors are elected and have qualified. In accordance with regulations issued by the Comptroller of the Currency, a national bank may adopt bylaws that provide for staggering the terms of its directors.","path":["Title 12—BANKS AND BANKING","CHAPTER 2—NATIONAL BANKS"],"source_url":"https://uscode.house.gov/download/releasepoints/us/pl/119/103/xml_usc12@119-103.zip","current_through":"Public Law 119-103 (09/02/2026)","vintage":"","retrieved_at":"2026-09-10T05:56:24Z","sha256":"50422156e6d5ef75506d0674db98554248ed5784f907afd25309c2b2ccd6dbc2","source_id":"us","stale":false,"prev":"us/12-u.s.c.-67","next":"us/12-u.s.c.-71a"},"notice":"GroundRules: Original legal text. Not legal advice."}