[Federal Register Volume 63, Number 143 (Monday, July 27, 1998)]
[Notices]
[Page 40123]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19889]
=======================================================================
-----------------------------------------------------------------------
FARM CREDIT ADMINISTRATION
Farm Credit Administration Board Action to Approve a Plan of
Voluntary Liquidation of AgCo Services Corporation and Cancel the
Charter of AgCo Services Corporation
AGENCY: Farm Credit Administration.
ACTION: Notice.
-----------------------------------------------------------------------
On June 29, 1998, the Farm Credit Administration Board adopted FCA
Board Action NV 98-26 authorizing the voluntary liquidation of AgCo
Services Corporation (AgCo) without the appointment of a receiver
pursuant to 12 CFR 627.2795(a), and the cancellation of AgCo's charter
arising out of the voluntary liquidation of AgCo. The text of the FCA
Board Action is set forth below: Farm Credit Administration (FCA) Board
Action to Cancel the Charter of AGCO Services Corporation.
Whereas, AgCo Services Corporation, chartered under section 4.25 of
the Farm Credit Act of 1971 as amended, and originally organized by
CoBank, ACB and AgAmerica, FCB for the purpose of consolidating their
management information systems and electronic data processing
functions, has not performed any of the services for which it was
originally chartered for nearly two years;
Whereas, the board of directors of AgCo Services Corporation has
submitted a plan of voluntary liquidation pursuant to FCA Regulation 12
CFR 627.2795(a) to liquidate the service corporation;
Whereas, CoBank, ACB of Englewood, Colorado, as the sole remaining
shareholder of AgCo Services Corporation, voted to voluntarily
liquidate the service corporation pursuant to 12 CFR 627.2795; and
Whereas, CoBank, ACB has agreed to assume all present and future
liabilities and responsibilities in whatever form and substance as well
as acquire the remaining assets of AgCo Services Corporation;
Now, therefore, it is hereby ordered that:
1. The Charter of the AgCo Services Corporation is hereby canceled.
2. The foregoing FCA Board action shall be effective at 5:00 p.m.
EDT on July 22, 1998.
Signed by Marsha Pyle Martin, Chairman, Farm Credit
Administration Board, on June 29, 1998.
Dated: July 21, 1998.
Floyd Fithian,
Secretary, Farm Credit Administration Board.
[FR Doc. 98-19889 Filed 7-24-98; 8:45 am]
BILLING CODE 6705-01-P
