2012 US Code
Title 12 - Banks and Banking
Chapter 23 - FARM CREDIT SYSTEM (§§ 2001 - 2279cc)
Subchapter VII - RESTRUCTURING OF SYSTEM INSTITUTIONS (§§ 2279a - 2279g)
Part C - Approval of Disclosure Information and Issuance of Charters by the Farm Credit Administration Board (§§ 2279e)
Section 2279e - Approval of disclosure information and issuance of charters
Publication Title | United States Code, 2012 Edition, Title 12 - BANKS AND BANKING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER VII - RESTRUCTURING OF SYSTEM INSTITUTIONS Part C - Approval of Disclosure Information and Issuance of Charters by the Farm Credit Administration Board Sec. 2279e - Approval of disclosure information and issuance of charters |
Contains | section 2279e |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 92-181, title VII, §7.11, as added Pub. L. 100-233, title IV, §416, Jan. 6, 1988, 101 Stat. 1651; amended Pub. L. 100-399, title IV, §408(p), Aug. 17, 1988, 102 Stat. 1002; Pub. L. 102-237, title V, §502(n), Dec. 13, 1991, 105 Stat. 1870. |
Statutes at Large References | 101 Stat. 1651 102 Stat. 1002 105 Stat. 1870 |
Public Law References | Public Law 92-181, Public Law 100-233, Public Law 100-399, Public Law 102-237 |
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With respect to any plan of merger, transfer of lending authority, dissolution, or termination, prior to submission to the voters (voting stockholders and, where required, contributors to guaranty funds) of the institutions involved, such plan shall be submitted to the Farm Credit Administration Board, together with all information that is to be distributed to the voters with respect to the contemplated action, including an enumerated statement of the anticipated benefits and potential disadvantages of such action.
(2) Notice of approvalOn notification that the Farm Credit Administration Board has approved such plan for submission to the stockholders, or after 60 days of no action on the plan by the Board, the submitting institutions may submit the plan, together with the disclosure information, to the voters for the prescribed vote.
(b) Notice of reasons for disapprovalIf the Farm Credit Administration Board disapproves the plan for submission to the stockholders, notification to the submitting institutions shall specify the reasons for the determination by the Board. If such plan is determined to be inadequate, it shall not be submitted to the voters for a vote.
(c) Federal charterEach plan of merger or transfer of lending authority may include a proposed new or revised Federal charter for the merged or transferee entity. The Farm Credit Administration Board shall issue such charter on the approval of the plan, as prescribed in this subchapter, unless the Board determines that the charter submitted is not consistent with this chapter.
(Pub. L. 92–181, title VII, §7.11, as added Pub. L. 100–233, title IV, §416, Jan. 6, 1988, 101 Stat. 1651; amended Pub. L. 100–399, title IV, §408(p), Aug. 17, 1988, 102 Stat. 1002; Pub. L. 102–237, title V, §502(n), Dec. 13, 1991, 105 Stat. 1870.)
Amendments1991—Subsec. (a)(2). Pub. L. 102–237 substituted “60 days” for “30 days”.
1988—Subsec. (a)(1). Pub. L. 100–399 substituted “transfer of lending authority” for “transfer or assignment of lending authority” and “the institutions involved” for “such institutions”.
Effective Date of 1988 AmendmentAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.
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