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.
The 12th amendment was passed because of the election between John Adams and Thomas Jefferson in 1796. Originally, the second place candidate would become the Vice President. â¦ Although, that proposed a problem for Thomas Jefferson and John Adams.his was created because, during the election of 1800 Thomas Jefferson & Aaron burr were going against the federalists, Jefferson & burr won, but they each received 73 electoral votes and the house of representatives had to re vote 35 times until on the 36th ballot Jefferson won.