Page:United States Statutes at Large Volume 121.djvu/129

 121 STAT. 108

PUBLIC LAW 110–26—MAY 11, 2007

‘‘(d) ADVISORY COUNCIL.— ‘‘(1) ESTABLISHMENT.—There shall be an advisory council to the board of governors. ‘‘(2) MEMBERSHIP; APPOINTMENT BY PRESIDENT.— ‘‘(A) IN GENERAL.—The advisory council shall be composed of no fewer than 8 and no more than 10 members, each of whom shall be appointed by the President from principal officers of the executive departments and senior officers of the Armed Forces whose positions and interests qualify them to contribute to carrying out the programs and purposes of the corporation. ‘‘(B) MEMBERS FROM THE ARMED FORCES.—At least 1, but not more than 3, of the members of the advisory council shall be selected from the Armed Forces. ‘‘(3) DUTIES.—The advisory council shall advise, report directly to, and meet, at least 1 time per year with the board of governors, and shall have such name, functions and be subject to such procedures as may be provided in the bylaws. ‘‘(e) ACTION WITHOUT MEETING.—Any action required or permitted to be taken at any meeting of the board of governors or of any committee thereof may be taken without a meeting if all members of the board or committee, as the case may be, consent thereto in writing, or by electronic transmission and the writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the board or committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form. ‘‘(f) VOTING BY PROXY.— ‘‘(1) IN GENERAL.—Voting by proxy is not allowed at any meeting of the board, at the annual meeting, or at any meeting of a chapter. ‘‘(2) EXCEPTION.—The board may allow the election of governors by proxy during any emergency. ‘‘(g) BYLAWS.— ‘‘(1) IN GENERAL.—The board of governors may— ‘‘(A) at any time adopt bylaws; and ‘‘(B) at any time adopt bylaws to be effective only in an emergency. ‘‘(2) EMERGENCY BYLAWS.—Any bylaws adopted pursuant to paragraph (1)(B) may provide special procedures necessary for managing the corporation during the emergency. All provisions of the regular bylaws consistent with the emergency bylaws remain effective during the emergency. ‘‘(h) DEFINITIONS.—For purposes of this section— ‘‘(1) the term ‘entire board’ means the total number of members of the board of governors that the corporation would have if there were no vacancies; and ‘‘(2) the term ‘emergency’ shall have such meaning as may be provided in the bylaws.’’. SEC. 7. POWERS.

Subsection (a)(1) of section 300105 of title 36, United States Code, is amended by striking ‘‘bylaws’’ and inserting ‘‘policies’’. SEC. 8. ANNUAL MEETING.

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Section 300107 of title 36, United States Code, is amended to read as follows:

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