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SEC. 4 
FEDERAL RESER{E ACT 
certify to the chairmen his first, second, and other 
choices for director of class A and class B, respectively, 
upon a preferential bellot upon a form furnished by the 
chairman of the board of directors of the Federal reserve 
bank of the district. Each such officer shall make a 
cross opposite the name of the first, second, and other 
choices for a director of class A and for a director of class 
B, but shall not vote more than one choice for any one 
candidate. No officer or director of a member bank shall 
be eligible to serve as a class A director unless nominated 
and elected by banks which are members of the same 
group as the member bank of which he is an officer or 
director. 
Any person who is an officer or director of more than 
one member bank shall not be eligible for nomination as 
a class A director except by banks in the same group as 
the bank having the largest aggregate resources of any 
of those of which such person is an officer or director. 
Any candidate having a majority of all votes cast in 
the column of first choice shall be declared elected. If no 
candidate have a majority of all the votes in the first 
column, then there shall be added together the votes cast 
by the electors for such candidates in the second column 
and the votes cast for the several candidates in the first 
column. The candidate then having a majority of the 
electors voting and the highest number of combined votes 
shall be declared elected. If no candidate have a majority 
of electors voting and the highest number of votes when 
the first and second choices shall have been added, then 
the votes cast in the third column for other choices shall 
be added together in like manner, and the candidate 
then having the highest number of votes shall be declared 
elected. An immediate report of election shall be declared. 
Class C directors shall be appointed by the Federal 
Reserve Board. They shall have been for at least two 
years residents of the district for which they are appointed, 
one of whom shall be designated by said board as chair- 
man of the board of directors of the Federal reserve bank 
and as “Federal reserve agent.” He shall be a person 
of tested banking experience, and in addition to his 
duties as chairman of the board of directors of the Federal 
reserve bank he shall be required to maintain, under 
regulations to be established by the Federal Reserve 
Board, a local office of said board on the premises of the 
Federal reserve bank, He shall make regular reports to 
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