12 USC 2279f-1 - Merger of similar associations

U.S Code last checked for updates: May 05, 2024

§ 2279f–1.

Merger of similar associations

(a)

In general

Associations may voluntarily merge with other like associations if the plan of merger is approved by—

(1)

the Farm Credit Administration Board;

(2)

the respective Boards of Directors of the associations involved;

(3)

a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders’ meeting; and

(4)

the Farm Credit Banks involved.

(b)

Procedures

(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.)

cite as: 12 USC 2279f-1