### Question
What does total number of elective directorships mean?


### Answer
**Total number of elective directorships** has the following meaning in *12 U.S.C. § 1427*:

> the total number of elective directorships on the board of directors of the bank of the district in which such State was located on December 31, 1960, and the term “members” where used for the second time in such sentence means members of such bank

#### Citation:
  - *12 U.S.C. § 1427*
  - Heading: **CHAPTER 11-FEDERAL HOME LOAN BANKS**

