{"identifier":"/us/usc/t12/s2279f\u20131","title":12,"num":"\u00a7\u202f2279f\u20131.","heading":"Merger of similar associations","text":"\u00a7\u202f2279f\u20131.\nMerger of similar associations\n(a)\nIn general\nAssociations may voluntarily merge with other like associations if the plan of merger is approved by\u2014\n(1) the Farm Credit Administration Board;\n(2) the respective Boards of Directors of the associations involved;\n(3) a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders\u2019 meeting; and\n(4) the Farm Credit Banks involved.\n(b)\nProcedures\nThe provisions of subsections (b) and (c) of\nsection 2279c\u20131 of this title","url":"https://projectusc.org/usc/t12/s2279f\u20131.html","content":[{"t":"sec","id":"/us/usc/t12/s2279f\u20131","children":[{"t":"num","text":"\u00a7\u202f2279f\u20131."},{"t":"heading","text":"Merger of similar associations"},{"t":"subsec","id":"/us/usc/t12/s2279f\u20131/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"chapeau","text":"Associations may voluntarily merge with other like associations if the plan of merger is approved by\u2014"},{"t":"para","id":"/us/usc/t12/s2279f\u20131/a/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" the Farm Credit Administration Board;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s2279f\u20131/a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" the respective Boards of Directors of the associations involved;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s2279f\u20131/a/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders\u2019 meeting; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s2279f\u20131/a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" the Farm Credit Banks involved.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s2279f\u20131/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Procedures"},{"t":"content","children":[{"t":"p","text":"The provisions of subsections (b) and (c) of ","children":[{"t":"ref","text":"section 2279c\u20131 of this title","href":"/us/usc/t12/s2279c\u20131","tail":" shall apply to associations merged under this section."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}