Rolnictwo i finanse · 12/05/1999

Organization; Disclosure to Shareholders; FCS Board Compensation Limits; Effective Date

The Farm Credit Administration (FCA) published a final rule under parts 611 and 620 on April 6, 1999 (64 FR 16617). The final rule amends the regulations Farm Credit System (FCS) bank director compensation. The amendment removes the requirement for FCS banks to obtain our prior approval before paying their directors more than the generally applicable limit. 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 May 11, 1999.