§2269 — Title 12 Banks and Banking | U.S. Code

Summary

It makes it a crime for a current or former director, officer, or any other person who has a final order against them under sections 2264 or 2265 to take part in running the institution or to solicit, transfer, or vote proxies, consents, or other voting authorizations. It also bans, without prior written approval from the Farm Credit Administration, voting for a director or serving as a director, officer, or employee. If convicted, the person can be fined up to $5,000, jailed for up to one year, or both.

Title 12, §2269

Banks and Banking — Source: USLM XML via OLRC

Any director or officer, or former director or officer of a System institution, or any other person, against whom there is outstanding and effective any notice or order (which is an order which has become final) served upon such director, officer, or other person under section 2264 or 2265 of this title, and who (1) participates in any manner in the conduct of the affairs of the institution involved, or directly or indirectly solicits or procures, or transfers or attempts to transfer, or votes or attempts to vote, any proxies, consents, or authorizations in respect of any voting rights in such institution, or (2) without the prior written approval of the Farm Credit Administration, votes for a director, serves or acts as a director, officer, or employee of any System institution, shall upon conviction be fined not more than $5,000 or imprisoned for not more than one year, or both.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an

Effective Date

of 1985 Amendment note under section 2001 of this title.

§2269 Further Penalties

Summary

Title 12, §2269

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata