Title 12, Banks and BankingRelease 119-73not60

§2279f–1 Merger of Similar Associations

Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter VII— RESTRUCTURING OF SYSTEM INSTITUTIONS › Part D— Mergers of Like Entities › § 2279f–1

Last updated Apr 3, 2026|Official source

Summary

Associations can merge only if the merger plan is approved by the Farm Credit Administration Board, each association’s board, a majority of voting stockholders, and the 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 3, 2026

Release point: 119-73not60