BOARD OF DIRECTORS.

SEC. 1.4. [12 U.S.C. 2012] BOARD OF DIRECTORS. Each Farm Credit Bank shall elect a board of directors of such number, for such term, in such manner, and with such qualifications, as may be required in its bylaws, except that, at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, or stockholder of a System institution.