[Federal Register Volume 64, Number 28 (Thursday, February 11, 1999)]
[Rules and Regulations]
[Page 6784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-3370]
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FARM CREDIT ADMINISTRATION
12 CFR Part 611
RIN 3052-AB71
Organization; Balloting and Stockholder Reconsideration Issues;
Effective Date
AGENCY: Farm Credit Administration.
ACTION: Notice of effective date.
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SUMMARY: The Farm Credit Administration (FCA) published a final rule
under part 611 on November 24, 1998 (63 FR 64841). This final rule will
amend Farm Credit Administration (FCA or Agency) regulations concerning
Farm Credit System (System or FCS) ballots and the effective dates for
mergers, consolidations, or transfers of direct lending authority. The
amendments allow the use of identity codes on ballots, as long as the
votes are tabulated by an independent third party; limit the scope of
the regulation to System banks and associations; and remove
descriptions of specific balloting procedures from the regulations. The
amendments also reduce the earliest effective date of a merger,
consolidation, or transfer of lending authority. The amendments provide
more flexibility to institutions and stockholders when stockholder
votes occur, extend security and confidentiality requirements to all
stockholder votes of banks and associations, limit such requirements to
banks and associations, and accelerate the effective date of certain
corporate actions. In accordance with 12 U.S.C. 2252, the effective
date of the final rule is 30 days from the date of publication in the
Federal Register during which either or both Houses of Congress are in
session. Based on the records of the sessions of Congress, the
effective date of the regulations is February 11, 1999.
EFFECTIVE DATE: The regulation amending 12 CFR part 611 published on
November 24, 1998 (63 FR 64841) is effective February 11, 1999.
FOR FURTHER INFORMATION CONTACT:
Alan Markowitz, Senior Policy Analyst, Office of Policy and Analysis,
Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4498;
or
Rebecca S. Orlich, Senior Attorney, Office of General Counsel, Farm
Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TDD (703)
883-4444.
(12 U.S.C. 2252(a)(9) and (10))
Dated: February 4, 1999.
Vivian L. Portis,
Secretary, Farm Credit Administration Board.
[FR Doc. 99-3370 Filed 2-10-99; 8:45 am]
BILLING CODE 6705-01-P
