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U.S. Code as of:
01/19/04
Section 3303. Financial Institutions Examination Council
(a) Establishment; composition
There is established the Financial Institutions Examination
Council which shall consist of -
(1) the Comptroller of the Currency,
(2) the Chairman of the Board of Directors of the Federal
Deposit Insurance Corporation,
(3) a Governor of the Board of Governors of the Federal Reserve
System designated by the Chairman of the Board,
(4) the Director, Office of Thrift Supervision (!1)
(5) the Chairman of the National Credit Union Administration
Board.
(b) Chairmanship
The members of the Council shall select the first chairman of the
Council. Thereafter the chairmanship shall rotate among the members
of the Council.
(c) Term of office
The term of the Chairman of the Council shall be two years.
(d) Designation of officers and employees
The members of the Council may, from time to time, designate
other officers or employees of their respective agencies to carry
out their duties on the Council.
(e) Compensation and expenses
Each member of the Council shall serve without additional
compensation but shall be entitled to reasonable expenses incurred
in carrying out his official duties as such a member.
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