§ 2279e. Approval of disclosure information and issuance of charters
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/usc/title-12/section-2279eA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Disclosure of information
(1)Approval of plan 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 approval On 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 disapproval If 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 charter Each 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.)
Connections7 cite this · traces to 1
Cited by 7 sections
statutes-at-large
- Public Law 102–237To make technical corrections to agricultural laws
- Public Law 100–399To make technical corrections to the agricultural credit laws
- Public Law 100–233To provide credit assistance to farmers, to strengthen the Farm Credit System, to facilitate the establishment of secondary markets for agricultural loans, and for other purposes
statute-compilations
Traces to 1 document
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- Pub. L. 92–181, title VII, § 7
- Pub. L. 100–233, title IV, § 416
- 101 Stat. 1651
- Pub. L. 100–399, title IV, § 408(p)
- 102 Stat. 1002
- Pub. L. 102–237, title V, § 502(n)
- 105 Stat. 1870
- Pub. L. 102–237
- Pub. L. 100–399
- Pub. L. 100–233
- section 1001(a) of Pub. L. 100–399
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§ 2279e
Approval of disclosure information and issuance of charters
Stat.×3
Fed. Reg.×2
Stat. Comp.×1
U.S.C.×1
Pub. L.Pub. L. 92–181, title VII, § 7
Pub. L.Pub. L. 100–233, title IV, § 416
Stat.101 Stat. 1651
Pub. L.Pub. L. 100–399, title IV, § 408(p)
Stat.102 Stat. 1002
Cites 12 · showing 6Cited by 7 across 4 sources