GroundRules
12 CFR 611.1220: Termination resolution.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER VI—FARM CREDIT ADMINISTRATION
- SUBCHAPTER B—FARM CREDIT SYSTEM
- PART 611—ORGANIZATION
- Subpart P—Termination of System Institution Status
No more than 1 week before you submit your plan of termination to us, your board of directors must adopt a termination resolution stating its support for terminating your status as a System institution and authorizing:
(a) Submission to us of a plan of termination and other required submissions that comply with § 611.1223; and
(b) Submission of the plan of termination to the voting stockholders if we approve the plan of termination under § 611.1230 or, if we take no action, after the end of our approval period.
Collected 2026-08-27T02:24:16Z. Source file · JSON