§ 611.501. Procedures.
132 words·~1 min read·
/us/cfr/t12/s§ 611.501·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The boards of directors of a bank and an association which seek to transfer authorities may adopt appropriate resolutions approving such transfer and providing for the submission of such a proposal to their respective stockholders for a vote.
(b)The resolutions accompanied by the following information shall be submitted to the Farm Credit Administration for review and approval:
(1)Any proposed amendments to the charters of the institutions;
(2)A copy of the transfer plan as required under § 611.520 of this part;
(3)An information statement that complies with the requirements of § 611.515;
(4)The proposed bylaws of the bank and the association, as applicable; and
(5)Any additional information the boards of directors wish to submit in support of the request or that the Farm Credit Administration requests.