Page:United States Statutes at Large Volume 40 Part 1.djvu/986

 968 SIXTY-FIFTH CONGRESS. Sess. II. C11. 177. 1918. "Each member bank shall be permitted to nominate to the chairman one candidate for director of Class A and one candidate for director of Class B. The candidates so nominated shall be listed by the chairman, indicating by whom nominated, and a copy of said list sllpall, within fiftleepl days after its completion, be fnunished by the c airman to eac ector. Eliwgesry  sahlalbhwithin figleeiiirgiays afteir thelrepleipt of the sai ,cer1 o ecairman ,secon,an o ercoices of a director ofYClass A and Class B, respectively, ,upon a preferential ballot, on a form furnished by the chairman of the oard of directors of the Federal reserve bank of the district. Each elector shall make a cross opposite the name of the first, second, and other choices for a director of Class A and for a director of Class B, but shall not vote NM ·¤¤¢*¤· more than one choice for any one candidate/’ and by substituting baidkgual r°°°"° therefor the following: mdbigshfgfgyf CM A "Dg'ecto1s of Class A and Class B shall be chosen in the following ,,,;’°°°°‘"°'°’ °*‘°°°‘ "The Federal Reserve Board shall classify the member banks of m°·;}&°d§8» P- 25% the district mto three general groups or divisions, designating each group by number;  up shall consist as nearly as ml? be of banks of-s1m1lar·cap1t§(i»tmn.,· Each. member bank sh be I permitted to nominate to tl`I0`CllH1'!1l8D.‘0fZlil16.b0I.P{l·0f directors of Nmimm 0, M the Federal reserve bank oi·the·district=one candidate fordirector times. of dass As and'oineca.udidate=for·direc(sorLof Glass Br The candidates sonominated shall be listed chairman, indicating byswhom nominated, and a cop of said t shall; within fifteen days after its completion, be furmshed by thejchairman to each member bank; Eae member bank b{ ae resolution of the board or by an amendment to its by-laws s all authorize its resident, cashier, or some gher  to cmii3tl:§rvote‘ of the memger bank in the elections of ass an ectors. e.£?u°°”g M M`} "Within fifteen days after receipt of the list of candidates the duly Iaiigtléogzed ofhpler ofi a nlignbgié ban]; shall certify to the chairman, secon , an ot —c ices or director of Class A and P'°‘°'°°““l b°u°°°‘ Class B, respectively, upon afreferential ballot u on a form furnished . bg the chairman of the boar of directors of the Eederal reservebank o the district. Each such officer shall make a cross opposite the name of the first, second, and other choices for a director of Class A E, bmw 0,C,w A and for a director of Class B, but shall not vote more than one choice maiiiam. fgignanlye OILS gpndidate. No oiiigr or director of a member bank s e' e to serve as a ass A director unless nominated and elected§y banks which are members of the same group as the Mtdmn on Cm member bank of which he IS an officer or director. ‘ hmmm. "Anlynplerson who is an officer or director of more than one member bank s not be eligible for nomination as aClass A director except by banks in the same group as the bank having the largest aggregate A,,,,m,,y 0,;,,8,,,,, rwources of any of those of which such person is an officer or du·eetor." Bow!. Sec. 2. That section eleven (k) 0 the Federal reserve Act be Fiduciary ,,,,,,,,,8 ,0 amended and reenacted to read as follows:, Egg! www ex- " (k) To grant by special permit to national banks applying ven} ss, p. zez, therefor, when not in contravention of State or local law, the right °‘“°“‘*°°· ao aépst as ¤,t1¤·;1istee,fexecut0r, administrator, registrar of stocks and on, an 0 estates, assi ee, receiver, committee of est of lunatgizjs, or_in any other iidugnary capacity in which State baiilfsi trust compames, or other corporations which come into com etition with national banks are permitted to act tmder the laws of) the Pmms mt deemed State in which the national bank is located. ggxumggimn 0!State, _ “Whenever the laws of such State authorize or permit the exer— " ’ c1se_of any or all of the foregoingupowers by State banks, trust compames, or other corporations w ch compete with national banks,