Rolnictwo i finanse · 11.02.1999
Organization; Balloting and Stockholder Reconsideration Issues; Effective Date
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 e