Suggested Plan for Monetary Legislation, Submitted to the National Monetary Commission
Suggested Plan for Monetary Legislation, Submitted to the National Monetary Commission
Nelson W Nelson Wilmarth Aldrich
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A group of directors equal in number to the niunber of local associations composing the district, and this group shall be elected by the local associations, each association having one vote. Second. A group of directors equal to two-thirds of the foregoing group and elected by stock representation. Third. A group of directors equal in number to one-third of the first group, representing the industrial, commercial, agricultural, and other interests of the district, and elected by the votes of th...e first two groups, each director thus voting having one vote. Fourth. The manager of the branch shall be ex officio a member of the board of directors of the branch and shall be chairman of the board. 13. All the members of the board of directors of the branch, except the ex officio member, shall at the first meeting of the board be classified into three classes, and the terms of office of these three classes shall be, respec- tively, one, two, and three years. Thereafter members of the board shall be elected for a term of three years.
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