United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 23. FARM CREDIT SYSTEM |
SubChapter VII. RESTRUCTURING OF SYSTEM INSTITUTIONS |
Part D. Mergers of Like Entities |
§ 2279f–1. Merger of similar associations
Latest version.
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(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 The provisions of subsections (b) and (c) of section 2279c–1 of this title shall apply to associations merged under this section.
(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.)
Amendments
1988—Subsec. (a)(4). Pub. L. 100–399, § 408(s), substituted “the Farm Credit Banks involved” for “the Farm Credit Bank”.
Subsec. (b). Pub. L. 100–399, § 408(t), substituted “subsections (b) and (c)” for “subsections (b), (c), and (d)”.
Effective Date Of Amendment
Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved