---
kind: "section"
citation: "12 C.F.R. § 169.3"
title: "12"
number: "169.3"
heading: "Holders of proxies."
url: "https://uscodex.org/cfr/12/169.3"
---

# §169.3. Holders of proxies.


No proxy of a mutual savings association with a term greater than eleven months or solicited at the expense of the association may designate as holder anyone other than the board of directors [trustees] as a whole, or a committee appointed by a majority of such board.


## Notes

### Authority

Authority: Section 2, 48 Stat. 128, as amended (12 U.S.C. 1462); section 3, as added by section 301, 103 Stat. 278 (12 U.S.C. 1462a); section 4, as added by section 301, 103 Stat. 280 (12 U.S.C. 1463), 5412(b)(2)(B).

### Source

Source: 76 FR 49129, Aug. 9, 2011, unless otherwise noted.