12 CFR 1710.10 : Banks And Banking (This Book Contains Parts 1 To 199) (§ 1026.1 To Parts 198-199) — Office Of Federal Housing Enterprise Oversight, Department Of Housing And Urban Development (Parts 1700-1709 To Parts 1778-1799) — Safety And Soundness (Parts 1700-1709 To Parts 1778-1799) — Corporate Governance (§ 1710.1 To § 1710.30) — Corporate Practices And Procedures (§ 1710.10 To § 1710.19) — Law applicable to corporate governance.

(a) General. The corporate governance practices and procedures of each Enterprise shall comply with applicable chartering acts and other Federal law, rules, and regulations, and shall be consistent with the safe and sound operations of the Enterprise.

(b) Election and designation of body of law. (1) To the extent not inconsistent with paragraph (a) of this section, each Enterprise shall follow the corporate governance practices and procedures of the law of the jurisdiction in which the principal office of the Enterprise is located, as amended; Delaware General Corporation Law, Del. Code Ann. tit. 8, as amended; or the Revised Model Business Corporation Act, as amended.

(2) Each Enterprise shall designate in its bylaws the body of law elected for its corporate governance practices and procedures pursuant to this paragraph within 90 calendar days from August 5, 2002.