Title: FINAL RULE; CORRECTION--Organization; Correction--12 CFR Part 611
Issue Date: 09/07/1989
Agency: FCA
Federal Register Cite: 54 FR 37094

12 CFR Part 611

RIN 3052-AA00

Organization; Correction

ACTION: Final rule; correction.

SUMMARY: On December 15, 1988, the Farm Credit Administration (FCA) published a final rule which amended the regulation relating to organizational authorities of Farm Credit institutions (53 FR 50381). On January 23, 1989, a correction to that final rule was published in the Federal Register (54 FR 2994). The FCA is revising the correction document to remove a word that was incorrectly added.

EFFECTIVE DATE: February 22, 1989.

FOR FURTHER INFORMATION CONTACT: Gary L. Norton, Senior Attorney, Office of General Counsel, Farm Credit Administration, McLean, Virginia 22102-5090, (703) 883-4020, TDD (703) 883-4444.

SUPPLEMENTARY INFORMATION: In the January 23, 1989 correction to the final rule, an error was inadvertently made in 12 CFR 611.310.


1. On page 2994, third column, the word "director," was incorrectly added in 611.310(c). Paragraph (c) is corrected to read as follows:

Subpart C -- Election of Directors

611.310 Eligibility for membership on bank and association boards and subsequent employment.

* * * * *

(c) No bank director shall, within 1 year after the date when he or she ceases to be a member of the board, serve as a salaried officer or employee of such bank, or any association with which the bank has a discount or agent relationship.

* * * * *

Dated: August 31, 1989.

David A. Hill,

Secretary, Farm Credit Administration Board.

[FR Doc. 89-20915 Filed 9-6-89; 8:45 am]