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e-CFR data is current as of January 15, 2021

Title 12Chapter VISubchapter BPart 611Subpart P → §611.1220


Title 12: Banks and Banking
PART 611—ORGANIZATION
Subpart P—Termination of System Institution Status


§611.1220   Termination resolution.

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.

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