Title 12

SECTION 7.2012

7.2012 President as director; chief executive officer.

§ 7.2012 President as director; chief executive officer. Link to an amendment published at 85 FR 83735, Dec. 22, 2020.

Pursuant to 12 U.S.C. 76, the president of a national bank must be a member of the board of directors, but a director other than the president may be elected chairman of the board. A person other than the president may serve as chief executive officer, and this person is not required to be a director of the bank.

---