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APPENDIX

preceding decennial census of the United States, shall have
as a director or other officer or employee any private
banker or any director or other officer or employee of
any other bank, banking association, or trust company
located in the same place: Provided, That nothing in this
section shall apply to mutual savings banks not having a
capital stock represented by shares, to joint-stock land
banks organized under the provisions of the Federal
Farm Loan Act, or to other banking institutions which do
no commercial banking business: Provided further, That
a director or other officer or employee of such bank, banking
 association, or trust company may bea director or other
nfficer or employee of not more than one other bank or
trust company organized under the laws of the United
States or any State where the entire capital stock of one is
owned by stockholders in the other: And provided further.
That nothing contained in this section shall forbid a director
 of class A of a Federal reserve bank, as defined in the
Federal Reserve Act, from being an officer or director, or
both an officer and director, in one member bank: And
provided further, That nothing in this Act shall prohibit
any private banker from being an officer, director, or employee
 of not more than two banks, banking associations,
or trust companies, or prohibit any officer, director, or employee
 of any bank, banking association, or trust company,
 or any class A director of a Federal reserve bank.
from being an officer, director, or employee of not more
than two other banks, banking associations, or trust
companies, whether organized under the laws of the
United States or any State, if in any such case there is in
[orce a permit therefor issued by the Federal Reserve
Board; and the Federal Reserve Board is authorized to
issue such permit if in its judgment it is not incompatible
with the public interest, and to revoke any such permit
whenever it finds, after reasonable notice and opportunity
 to be heard, that the public interest requires its
revocation.
The consent of the Federal Reserve Board may be
procured before the person applying therefor has been
elected as a class A director of a Federal reserve bank
or as a director of any member bank,
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Be

When any person elected or chosen as a director or
officer or selected as an employee of any bank or other