; and (5) by inserting after subsection (b) the following: (c) Allocation of member directorships among States in bank district (1) Designation of member location The Director shall designate the State in which each member of each Federal Home Loan Bank shall be deemed to be located for the purposes of this subsection and subsections (b) and (d), and may from time to time change any such designation. If the principal place of business of any Bank member is located in a State within the district of the Bank of which it is a member, the Director shall designate that State as the State in which the member shall be deemed to be located for those purposes. (2) Stock-based allocation of designated member directorships The number of member directorships designated as representing the members located in each separate State in a Federal Home Loan Bank district shall be determined by the Director in the approximate ratio of the percentage of the required stock, as prescribed by regulation of the Director, of the members located in that State at the end of the calendar year next preceding the date of the election to the total required stock, as so determined, of all members of the Bank as of that same date. (3) Limitations on stock-based allocations Except as provided in subsection (d), the following provisions shall apply to the allocation of member directorships among the States of a Bank district, notwithstanding the requirements of paragraph (2): (A) In the case of each State, the number of member directorships designated as representing the members located in that State shall not be less than one and shall not be more than six. (B) If at any time the number of member directorships designated as representing the members located in any State would not be at least equal to the total number of member directorships which, on December 31, 1960, were filled by officers or directors of members whose principal places of business were located in that State, the Director shall add to the board of directors of the Bank of the