Code of Federal Regulations (Last Updated: April 5, 2024) |
Title 12 - Banks and Banking |
Chapter VI - Farm Credit Administration |
SubChapter B - Farm Credit System |
Part 611 - Organization |
Subpart E - Transfer of Authorities |
§ 611.501 - Procedures.
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§ 611.501 Procedures.
(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.