Under the Federal Reserve Act, each of the twelve Reserve Banks is separately incorporated with its own board of directors.
Problems with the original procedure arose in the elections of 1796 and 1800. The Twelfth Amendment refined the process whereby a President and a Vice President are elected by the Electoral College.The amendment was proposed by the Congress on December 9, 1803, and was ratified by the requisite threeâfourths of state legislatures on June 15, 1804.he Twelfth Amendment was proposed by the 8th Congress on December 9, 1803, when it was approved by the House of Representatives by vote of 83â42, having been previously passed by the Senate, 22â10, on December 2.
Electoral College under the Twelfth Amendment [edit]. While the Twelfth Amendment did not change the composition of the Electoral College or the duties of the electors, it did change the process whereby a President and a Vice President are elected. The new electoral process was first used for the 1804 election.f no candidate for Vice President has a majority of the total votes, the Senate, with each Senator having one vote, chooses the Vice President. The Twelfth Amendment requires the Senate to choose between the candidates with the two highest numbers of electoral votes.