12 USC 2279f-1 – Merger of similar associations
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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
Terms Used In 12 USC 2279f-1
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
The provisions of subsections (b) and (c) of section 2279c-1 of this title shall apply to associations merged under this section.