Bylaws

Chapter 5. Board of Directors

BYLAW 516. VOTING BY INTERESTED DIRECTORS

[Adopted effective March 12, 1999.]

No Director may deliberate or vote on any matter that the Director is prohibited from voting on by CFTC Regulation 1.69(b)(1)(i). A director who is prohibited from deliberating or voting on a matter must disclose to NFA staff both the prohibition and the reason for the prohibition before the Board considers the matter.