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e-CFR Data is current as of November 19, 2009


Title 12: Banks and Banking
PART 7—BANK ACTIVITIES AND OPERATIONS
Subpart B—Corporate Practices

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§ 7.2012   President as director; chief executive officer.

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.

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