An original bill to amend the National Consumer Cooperative Bank Act to provide for a small business representative on the Banks' Board.

Summary

Amends the National Consumer Cooperative Bank Act to increase the size of the Board of Directors of the National Consumer Cooperative Bank from 13 to 15 members. Directs the President to appoint to the Board one additional officer from a Federal agency and a small business proprietor, as defined in the Small Business Act, who is a manufacturer or retailer. Exempts such small business appointee from provisions of law which require the presidentially appointed members of the Board to resign in favor of Directors selected by the shareholder cooperatives as the equity of the Federal Government in the Bank is redeemed. Revises the schedule for the resignation of the presidentially appointed Directors as the capital of the bank is paid-in.

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Documents

2 official files

• Public Law (PDF)

  Public Law · EN · 17 December 1979

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 21 September 1979

  Open at official source

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