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U.S. Code as of:
01/19/04
Section 3934. Board of Directors; membership; appointment; term
The corporation shall have a board of directors (hereinafter in
this section referred to as the "board"), consisting of fifteen
members. Three members of the board shall be appointed by the
President of the United States, by and with the advice and consent
of the Senate, effective on the date on which the other members are
elected, and for terms of three years or until their successors
have been appointed and have qualified, except that the first three
members of the board so appointed shall continue in office for
terms of one, two, and three years, respectively, and any member so
appointed to fill a vacancy shall be appointed only for the
unexpired term of the director whom he succeeds. Twelve members of
the board shall be elected by the stockholders.
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