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FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o the federal reserve board X-6582 April 30, 1930. SUBJECT: Uniform Plan of Designation of Officers to Vote in Elections of Class A and Class B Directory. Dear S i r : The Conference of Federal Reserve Agents in December, 1929, adopted, subject to the approval of the Federal Reserve Board, a uniform plan of designation "by member "banks of officers to vote in elections of Class A and Class B directors of Federal reserve banks, under which several officers of the bank would "be designated by t i t l e only and not by name. The resolution as adopted by the Conference of Federal Reserve Agents i s as follows: "Whereas, i t has been brought to the attention of the Federal Reserve Agents at their present conference that that part of Section 4 of the Federal Reserve Act which provides for the designation of an officer to cast the ballot of a member bank in the elections of Class A and Class B directors has not been uniformly construed and interpreted by the various Ffedefal Reserve Agents in their respective districts, and "Whereas, in many instances the designation i s made by name, and not by t i t l e , lodging the authority in a single officer of a member "bank, in the event Of whose promotion; abdende, i l l ness, death or resignation from office there is no one authorized to cast the ballot, until another designation i s made by resolution of the board of directors or change in the by-laws, and "Whereas, if a designation should "be made by t i t l e for the casting of such ballot, i t would obviate a l l uncertainty and such designation would remain continuous until revoked "by action of the board of directors, "Now, therefore, be i t resolved, that this conference adopt, confirm and ratify, subject to the approval of the Federal Reserve Board, a uniform plan of designation, the same to be adopted by each member bank in the System by a resolution of i t s board of directors or by an amendment to i t s "by-laws, which shall authorize the chairman of i t s "board, i t s president, or any one of X-6582 409 - 2 - i t s v i c e p r e s i d e n t s or i t s c a s h i e r , to c a s t the v o t e of the member h a n k i n t h e e l e c t i o n s of C l a s s A a n d C l a s s B d i r e c t o r s . "Be i t f u r t h e r r e s o l v e d , t h a t a uniform r e s o l u t i o n he p r e p a r e d by a committee duly a p p o i n t e d f o r t h a t purpose hy the Chairman of the Agents' Conference, a t t h e e a r l i e s t date, and t h a t a copy of such r e s o l u t i o n he given to each F e d e r a l Res e r v e Agent t o send to each member hank i n h i s d i s t r i c t f o r a d o p t i o n by i t s board of d i r e c t o r s a t the annual meeting of such bank, i n o r d e r t h a t a complete f i l e may be made up by t h e Agent i n h i s o f f i c e a s and when same i s adopted by t h e member bank," • The p r o p o s e d u n i f o r m p l a n of d e s i g n a t i o n o f v o t i n g o f f i c e r s w a s t h e s u b j e c t o f comment i n t h e B o a r d ' s l e t t e r o f F e b r u a r y 12, 1930 (X-6507) and t h e views of the F e d e r a l r e s e r v e a g e n t s on the q u e s t i o n s r a i s e d were r e q u e s t e d . A f t e r a c a r e f u l c o n s i d e r a t i o n of t h e p r o p o s e d p l a n i n t h e l i g h t of t h e o p i n i o n s e x p r e s s e d by t h e F e d e r a l r e s e r v e a g e n t s i n r e p l y to the B o a r d ' s l e t t e r of February 12th, the F e d e r a l R e s e r v e B o a r d h a s v o t e d t o a p p r o v e t h e u n i f o r m p l a n of d e s i g n a t i o n of o f f i c e r s t o v o t e i n e l e c t i o n s o f C l a s s A a n d Class B d i r e c t o r s , as proposed by the Federal r e s e r v e a g e n t s i n t h e i r r e s o l u t i o n set out above. There i s e n c l o s e d h e r e w i t h a s u g g e s t e d f o r m f o r t h e d e s i g n a t i o n of o f f i c e r s b y member b a n k s for voting purposes i n accordance with t h i s plan. The s u g g e s t e d f o r m p r o v i d e s f o r t h e a u t h o r i z a t i o n of the chairman of t h e b o a r d o f d i r e c t o r s , p r e s i d e n t , v i c e p r e s i d e n t , o r c a s h i e r o f t h e member b a n k a n d a l s o f o r t h e a u t h o r i z a t i o n o f some o t h e r o f f i c e r i f d e sired. S p a c e s a r e p r o v i d e d f o r t h e i n s e r t i o n of t h e s i g n a t u r e s of s u c h o f f i c e r s a s a r e d e s i g n a t e d . In the event that i t is f o u n d n e c e s s a r y t o snake a n y m a t e r i a l c h a n g e s i n t h e f o r m e n c l o s e d h e r e w i t h , p l e a s e f u r n i s h t h e B o a r d w i t h a c o p y of t h e f o r m f i n a l l y adopted.. By O r d e r of t h e F e d e r a l R e s e r v e B o a r d . Very t r u l y y o u r s , E . M. M c C l e l l a n d , Assistant Secretary. Enclosure, TO ALL FEDERAL RESERVE AGENTS, X-6582-a DESIGNATION OF OFFICER AUTHORIZED TO CAST VOTE OF MEMBER BAH. FEDERAL RESERVE BAH OF District Ho. Group No. At a meeting of the board. Of directors of the (Name and loca- duly called and held on the tion of hank) day of 193_, on motion duly made and seconded, i t was "RESOLVED, That the Chairman of the "board of directors, president, vice president, or cashier of this hank, or i s desired, insert his t i t l e here) ( i f designation ofsome officer not included in those mentioned of this bank, be and any one of them is hereby auth- orized, empowered and directed to cast the vote of this bank for Class A and Class B directors of the Federal Reserve Bank of in accordance with the provisions of Section 4 of the Federal Reserve Act, as amended. "RESOLVED FURTHER, That the authority hereby granted shall continue in force until revoked by the directors of this bank and that such authority heretofore conferred on any officer of this bank i s hereby revoked." Signatures of officers authorized to cast vote of bank I hereby certify that the foregoing i s a true and correct copy of a resolution of the board of directors of this bank, duly adopted on the date specified, I further certify that the foregoing signatures are the signatures of the individuals who on this date are the officers X-6582-a -2- of this bank designated, in the above resolution, under the authority of which any one of such officers may cast the vote of this bank. Dated the day of , 193 . (To be signed by officer other than any officer authorized to cast vote of bank) (Title) (AFFIX SEAL) TO CHAIRMAN OF THE BOARD, FEDERAL RESERVE BANK OF
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