12 U.S.C. § 2208 — Prohibition against use of signed ballots
submitted 46 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 69 words · no verdicts yet
This section prohibits Farm Credit System lending institutions from using signed ballots in specified votes. It requires safeguards protecting stockholders’ and guaranty-fund subscribers’ right to a secret ballot.
In any election or merger vote, or other proceeding subject to a vote of the stockholders (or subscribers to the guaranty fund of a bank for cooperatives), conducted by a lending institution of the Farm Credit* System, the institution— (1) may not use signed ballots; and
(2) must implement measures to safeguard the voting process for the protection of the right of stockholders (or subscribers) to a secret ballot.
In any election or merger vote, or other proceeding subject to a vote of the stockholders (or subscribers to the guaranty fund of a bank for cooperatives), conducted by a lending institution of the Farm Credit* System, the institution—
may not use signed ballots; and
shall implement measures to safeguard the voting process for the protection of the right of stockholders (or subscribers) to a secret ballot.
Source credit: (Pub. L. 92–181, title IV, § 4.20, as added Pub. L. 96–592, title IV, § 403, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 100–233, title IV, § 425, Jan. 6, 1988, 101 Stat. 1657.)
- 1980Enacted · Pub. L. 92-181 · 94 Stat. 3447
- 1988Amended · Pub. L. 100-233 · 101 Stat. 1657
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1980-12-24.
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