Statute: 1971 ACT AS AMENDED
Title: Title VII Restructuring of System Institutions
Subtitle: Subtitle D Mergers of Like Entities
U.S. Code Citation: 12 U.S.C. 2279f-1
12 U.S.C. 2279f-1 SEC. 7.13. MERGER OF SIMILAR ASSOCIATIONS.
(a) IN GENERAL. Associations may voluntarily merge with other like associations if the plan of merger is approved by—
(1) the Farm Credit Administration Board;
(2) the respective Boards of Directors of the associations involved;
(3) a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders' meeting; and
(4) the Farm Credit Banks involved.
(b) PROCEDURES. The provisions of subsections (b) and (c) of section 7.8 shall apply to associations merged under this section.
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