NATIONAL BANK DIRECTORS.

SEC. 1205. NATIONAL BANK DIRECTORS. (a) Amendments to the Revised Statutes.—Section 5145 of the Revised Statutes of the United States (12 U.S.C. 71) is amended— 114 STAT. 3034 (1) by striking “for one year” and inserting “for a period of not more than 3 years”; and (2) by adding at the end the following: “In accordance with regulations issued by the Comptroller of the Currency, a national bank may adopt bylaws that provide for staggering the terms of its directors.”. (b) Amendment to the Banking Act of 1933.—Section 31 of the Banking Act of 1933 (12 U.S.C. 71a) is amended in the first sentence, by inserting before the period except that the Comptroller of the Currency may, by regulation or order, exempt a national bank from the 25-member limit established by this section”.