2021 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter VII - Restructuring of System Institutions
Part A - Merger of Banks Within a District
Sec. 2279a - Power to merge
| 12 U.S.C. § 2279a (2021) |
| §2279a. Power to merge |
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The banks within a district may merge into a single entity (hereinafter in this subchapter referred to as a "merged bank") if the plan of merger is approved by— (1) the Farm Credit Administration Board; (2) the respective boards of directors of the banks involved; (3) a majority of the stockholders of each bank voting, in person or by proxy, at a duly authorized stockholders' meeting with each association entitled to cast a number of votes equal to the number of its voting stockholders; and (4) in the case of a bank for cooperatives, a majority of the total equity interests in such merging bank for cooperatives (including allocated, but not unallocated, surplus and reserves) held by those stockholders or subscribers to the guaranty fund of the bank voting. |
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(Pub. L. 92–181, title VII, §7.0, as added Pub. L. 100–233, title IV, §416, Jan. 6, 1988, 101 Stat. 1645; amended Pub. L. 100–399, title IV, §408(b), Aug. 17, 1988, 102 Stat. 1001.) |
| EDITORIAL NOTES
AMENDMENTS
1988—Pub. L. 100–399 substituted "The banks" for "Two or more banks" in introductory provisions, and in par. (3) substituted "with each association entitled to cast a number of votes equal to the number of its voting" for "in accordance with the provisions of section 2223(c) of this title relating to the casting of votes by". STATUTORY NOTES AND RELATED SUBSIDIARIES EFFECTIVE DATE OF 1988 AMENDMENT Amendment 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. |
| United States Code, 2018 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER VII - RESTRUCTURING OF SYSTEM INSTITUTIONS Part A - Merger of Banks Within a District Sec. 2279a - Power to merge |
| section 2279a |
| 2021 |
| January 3, 2022 |
| No |
| standard |
| 101 Stat. 1645 102 Stat. 1001 |
| Public Law 92-181, Public Law 100-233, Public Law 100-399 |
