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

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.

PART 611 -- ORGANIZATION

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]
BILLING CODE 6705-01-M