12 CFR § 1261.15 - Minimum number of member directorships.

---
identifier: "/us/cfr/t12/s1261.15"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1261.15 - Minimum number of member directorships."
title_number: 12
title_name: "Banks and Banking"
section_number: "1261.15"
section_name: "Minimum number of member directorships."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "D"
subchapter_name: "FEDERAL HOME LOAN BANKS"
part_number: "1261"
part_name: "FEDERAL HOME LOAN BANK DIRECTORS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1426, 1427, 1432, 4511 and 4526."
regulatory_source: "73 FR 55715, Sept. 26, 2008, unless otherwise noted."
cfr_part: "1261"
---


# 1261.15 Minimum number of member directorships.

Except with respect to member directorships of a Bank resulting from the merger of any two or more Banks, the number of member directorships allocated to each state shall not be less than the number of directorships allocated to that state on December 31, 1960. The following table sets forth the states within Bank districts not created from the merger of two or more Banks whose members held more than one directorship on December 31, 1960:

| State | Number ofelectivedirectorships onDecember 31, 1960 |
| --- | --- |
| California | 3 |
| Colorado | 2 |
| Illinois | 4 |
| Indiana | 5 |
| Kansas | 3 |
| Kentucky | 2 |
| Louisiana | 2 |
| Massachusetts | 3 |
| Michigan | 3 |
| New Jersey | 4 |
| New York | 4 |
| Ohio | 4 |
| Oklahoma | 2 |
| Pennsylvania | 6 |
| Tennessee | 2 |
| Texas | 3 |
| Wisconsin | 4 |

[81 FR 76297, Nov. 2, 2016]