§2184 — Title 12 Banks and Banking | U.S. Code

Summary

A Farm Credit System bank or association must give a stockholder a current list of the bank’s stockholders within 7 calendar days after it gets a written request. Before handing over the list, the bank can require the requester to sign a written promise that they will use the list only to contact stockholders for allowed reasons and will not share it except with their lawyer or accountant unless the bank agrees in writing. Instead of the list, a stockholder can ask the bank to mail or send a message to all stockholders for an allowed reason. If the requester wants a different type of mailing, they must pay the bank’s reasonable costs, and the bank must give a written cost estimate as soon as possible after the request.

Title 12, §2184

Banks and Banking — Source: USLM XML via OLRC

(a)(1)A Farm Credit System bank or association shall provide to a stockholder of the bank or association a current list of stockholders of the bank or association not later than 7 calendar days after the date on which the bank or association receives a written request for the stockholder list from the stockholder.

(2)As a condition of providing a stockholder list under paragraph (1), the bank or association may require that the stockholder agree and certify in writing that the stockholder will—

(A)use the list exclusively for communicating with stockholders for permissible purposes; and

(B)not make the list available to any person, other than the stockholder’s attorney or accountant, without first obtaining the written consent of the institution.

(b)(1)As an alternative to receiving a list of stockholders, a stockholder may request the institution to mail or otherwise furnish to each stockholder a communication for a permissible purpose on behalf of the requesting stockholder.

(2)Alternative communications may be used, at the discretion of the requesting stockholder, if the requester agrees to defray the reasonable costs of the communication. If the requester decides to exercise this option, the institution shall provide the requester with a written estimate of the costs of handling and mailing the communication as soon as is practicable after receipt of the stockholder’s request to furnish the communication.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2018—Subsec. (a)(1). Pub. L. 115–334 added par. (1) and struck out former par. (1). Prior to amendment, text read as follows: “Within 7 days after receipt of a written request by a stockholder, a bank for cooperatives, Federal land bank association, or production credit association shall provide a current list of its stockholders to such requesting stockholder.”

§2184 Communications with stockholders

Summary

Title 12, §2184

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata