[Code of Federal Regulations]

[Title 12, Volume 7]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR915.6]



[Page 79-80]

 

                       TITLE 12--BANKS AND BANKING

 

                CHAPTER IX--FEDERAL HOUSING FINANCE BOARD

 

PART 915_BANK DIRECTOR ELIGIBILITY, APPOINTMENT AND ELECTIONS--Table 

of Contents

 

Sec. 915.6  Elective director nominations.



    (a) Election announcement. Within a reasonable time in advance of an 

election, a Bank shall provide to each member in its district a written 

notice of the election that includes:

    (1) The number of elective directorships designated as representing 

the members in each voting State in the Bank district;

    (2) The name of each incumbent Bank director, the name and location 

of the member at which each elective director serves, and the name and 

location of the organization with which each appointive director is 

affiliated, if any, and the expiration date of each Bank director's term 

of office;

    (3) An attachment indicating the name, location, and FHFB ID number 

of every member in the member's voting state, and the number of votes 

each such member may cast for each directorship to be filled in the 

election, as determined in accordance with Sec. 915.5.

    (4) A nominating certificate.

    (b) Nominations. (1) Any member that is entitled to vote in the 

election may nominate an eligible individual to fill each available 

elective directorship for its voting State by submitting to its Bank, 

prior to a deadline to be established by the Bank, a nominating 

certificate duly adopted by the member's governing body or by an 

individual authorized to act on behalf of the member's governing body.

    (2) The nominating certificate shall include the name of the nominee 

and the name, location, and FHFB ID number of the member at which the 

nominee serves as an officer or director.

    (3) The Bank shall establish a deadline for submitting nominating 

certificates, which shall be no earlier than 30 calendar days after the 

date on which the Bank mails the notice required by paragraph (a) of 

this section, and the Bank shall not accept certificates received after 

that deadline. The Bank shall retain all nominating certificates



[[Page 80]]



for at least two years after the date of the election.

    (c) Accepting nominations. A Bank shall notify in writing any person 

nominated for an elective directorship promptly upon receipt of the 

nominating certificate. A person may accept the nomination only by 

submitting an executed director eligibility certification, as prescribed 

by the Finance Board, to the Bank prior to the deadline established by 

the Bank. A Bank shall allow each nominee at least 30 calendar days 

after the date of the notice of nomination within which to submit the 

executed form. A nominee may decline the nomination by so advising the 

Bank in writing, or by failing to submit a properly executed director 

eligibility certification prior to the deadline. Each Bank shall retain 

all information received under this paragraph for at least two years 

after the date of the election.



[63 FR 65689, Nov. 30, 1998, as amended at 65 FR 8259, Feb. 18, 2000; 66 

FR 8308, Jan. 30, 2001]