~~ 
reprfu RESERVE ACT S50. 4 
Class A shall consist of three members, who shall be 
chosen by and be representative of the stock-holding 
banks. 
Class B shall consist of three members, who at the time 
of their election shall be actively engaged in their district 
in commerce, agriculture or some other industrial pursuit. 
Class C shall consist of three members who shall be 
designated by the Federal Reserve Board. When the 
necessary subscriptions to the capital stock have been 
obtained for the organization of any Federal reserve 
bank, the Federal Reserve Board shall appoint the class 
C directors and shall designate one of such directors as 
chairman of the board to be selected. Pending the 
designation of such chairman, the organization committee 
shall exercise the powers and duties appertaining to the 
office of chairman in the organization of such Federal 
reserve bank. 
No Senator or Representative in Congress shall be a 
member of the Federal Reserve Board or an officer or a 
director of a Federal reserve bank. 
No director of class B shall be an officer, director, or 
employee of any bank. 
No director of class C shall be an officer, director, 
smployee, or stockholder of any bank. 
Directors of class A and class B shall be chosen in the 
following manner: 
The Federal Reserve Board shall classify the member 
banks of the district into three general groups or divi- 
sions, designating each group by number. Each group 
shall consist as nearly as may be of banks of similar 
capitalization. Each member bank shall be permitted 
to nominate to the chairman of the board of directors of 
the Federal reserve bank of the district one candidate for 
director of class A and one candidate for director of class 
B. The candidates so nominated shall be listed by the 
chairman, indicating by whom nominated, and a copy of 
said list shall, within fifteen days after its completion, be 
furnished by the chairman to each member bank. Each 
member bank by a resolution of the board or by an 
amendment to its by-laws shall authorize its president, 
cashier, or some other officer to cast the vote of the mem- 
ber bank in the elections of class A and class B directors. 
Within fifteen days after receipt of the list of candi- 
dates the duly authorized officer of a member bank shall