StacksVerified U.S. regulatory reference

12 CFR §7.2012

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Pursuant to 12 U.S.C. 76, the person serving as, or in the function of, president of a national bank, regardless of title, must be a member of the board of directors. A director other than the person serving as, or in the function of, president may be elected chairman of the board.