Page:United States Statutes at Large Volume 101 Part 3.djvu/355

 PUBLIC LAW 100-233—JAN. 6, 1988

101 STAT. 1653

"SEC. 7.13. MERGER OF SIMILAR ASSOCIATIONS.

12 USC 2279f-l.

"(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 Bank. "(b) PROCEDURES.—The provisions of subsections (b), (c), and (d) of section 7.8 shall apply to associations merged under this section.". SEC. 414. NONDISCRIMINATION.

12 USC 2252.

The second sentence of section 5.17(a)(2) (12 U.S.C. 2251(a)(2)) is amended by striking out "; and the Farm Credit Administration shall ensure" and all that follows through "discriminated £^ainst in the provision of any financial service and assistance" and inserting in lieu thereof ". The Farm Credit Administration Board shall ensure that disapproving associations (A) shall not be charged any assessment under this Act at a rate higher than that charged other like associations in the district, and (B) shall be provided with financial services and assistance on the same basis as other like associations in the district". SEC. 415. CONFORMING AMENDMENTS. (a) DISSOLUTION AND MERGER.— (1) PART HEADING.—The part heading of part B of title IV (12 U.S.C. 2181 et seq.) is amended by striking out " A N D MERGER".

(2) MERGER.—Section 4.10 (12 U.S.C. 2181) is repealed. (3) BOARDS OF DIRECTORS.—Section 4.11 (12 U.S.C. 2182) is

(4) DISSOLUTION.—Section 4.12(a) (12 U.S.C. 2183(a)) is amended— (A) by striking out the third sentence; and (B) in the fourth sentence, by striking out "may require such merger" and inserting in lieu thereof "Board may require an association to merge with another association'. (b) ISSUANCE OF OBLIGATIONS.—Section 4.2(d) (12 U.S.C. 2174(d)) is 12 USC 2153. amended by striking out "each of the 12 districts and the CJentral Bank for Cooperatives" and inserting in lieu thereof "each bank". (c) DISTRICT AND FARM CREDIT ADMINISTRATION ORGANIZATION.—

Sections 5.1 through 5.6 (12 U.S.C. 2222-2227) are repealed. (d) FARM CREDIT ADMINISTRATION POWERS.—Section 5.17(a)(2) (12

U.S.C. 2252(a)(2)) is amended— (1) by striking out "; approve mergers of banks" and all that follows through "territories" and inserting in lieu thereof "approve mergers and any related activities as provided for in title VII; and the consolidation or division of the territories"; and (2) by striking out "4.10" and inserting in lieu thereof "7.0".

Subtitle C—Other Restructuring Provisions SEC. 420. COMMUNICATIONS WITH STOCKHOLDERS.

Part B of title IV (12 U.S.C. 2181 et seq.) is amended by adding at the end thereof the following new section:

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