Title 12 — Banks and BankingRelease 119-73
§2279f–1 Merger of similar associations
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER VII— - RESTRUCTURING OF SYSTEM INSTITUTIONS › Part Part D— - Mergers of Like Entities › § 2279f–1
Summary
Mergers need approval by (1) the Farm Credit Administration Board, (2) each association’s board, (3) a majority of voting stockholders at a proper meeting (in person or by proxy), and (4) Farm Credit Banks. Rules in 2279c–1(b) and (c) apply.
Full Legal Text
Title 12, §2279f–1
Banks and Banking — Source: USLM XML via OLRC
(a)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)The provisions of subsections (b) and (c) of section 2279c–1 of this title shall apply to associations merged under this section.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1988—Subsec. (a)(4). Pub. L. 100–399, § 408(s), substituted “the Farm Credit Banks involved” for “the Farm Credit Bank”. Subsec. (b). Pub. L. 100–399, § 408(t), substituted “subsections (b) and (c)” for “subsections (b), (c), and (d)”.
Statutory Notes and Related Subsidiaries
Effective Date
of 1988 AmendmentAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2279f–1
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73