12 U.S.C. § 2279f–1 — Merger of similar associations
submitted 38 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 87 words · no verdicts yet
Associations may merge if four required groups approve the merger plan. The procedures in section 2279c–1(b) and (c) also apply.
(a) In general. Associations may voluntarily merge with like associations only if the plan is approved by: (1) the Farm Credit* Administration Board; (2) the boards of directors of both associations; (3) a majority of the stockholders of each association who vote in person* or by proxy at a properly authorized meeting; and (4) the Farm Credit Banks involved.
(b) Procedures. Section 2279c–1(b) and (c) applies to associations merged under this section.
Associations may voluntarily merge with other like associations if the plan of merger is approved by—
the Farm Credit* Administration Board;
the respective Boards of Directors of the associations involved;
a majority vote of the stockholders of each association voting, in person* or by proxy, at a duly authorized stockholders’ meeting; and
the Farm Credit Banks involved.
The provisions of subsections (b) and (c) of section 2279c–1 of this title shall apply to associations merged under this section.
Source credit: (Pub. L. 92–181, title VII, § 7.13, as added Pub. L. 100–233, title IV, § 416, Jan. 6, 1988, 101 Stat. 1653; amended Pub. L. 100–399, title IV, § 408(s), (t), Aug. 17, 1988, 102 Stat. 1003.)
- 1988Enacted · Pub. L. 92-181 · 101 Stat. 1653
- 1988Amended · Pub. L. 100-399 · 102 Stat. 1003
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.
all 0 arguments · sorted by: best
no arguments yet — make the first case