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 list sets forth the states whose members held more than one directorship on December 31, 1960: ------------------------------------------------------------------------
Number of elective
State directorships on
December 31, 1960------------------------------------------------------------------------California........................................ 3Colorado.......................................... 2Illinois.......................................... 4Indiana........................................... 5Iowa.............................................. 2Kansas............................................ 3Kentucky.......................................... 2Louisiana......................................... 2Massachusetts..................................... 3Michigan.......................................... 3Minnesota......................................... 2Missouri.......................................... 2New Jersey........................................ 4New York.......................................... 4Ohio.............................................. 4Oklahoma.......................................... 2Pennsylvania...................................... 6Tennessee......................................... 2Texas............................................. 3Wisconsin......................................... 4------------------------------------------------------------------------ Sec. 1261.16 [Reserved]