§ 2279f–1. Merger of similar associations
§ 2279f–1.
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 2279c–1 of this title shall apply to associations merged under this section.