Electronic Code of Federal Regulations
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e-CFR data is current as of January 15, 2021 |
Title 12 → Chapter VI → Subchapter B → Part 611 → Subpart P → §611.1235 |
Title 12: Banks and Banking
PART 611—ORGANIZATION
Subpart P—Termination of System Institution Status
§611.1235 Plan of termination—distribution.
(a) Reaffirmation resolution. Not more than 14 days before mailing the plan of termination to your equity holders, your board of directors must adopt a resolution reaffirming support of the termination. A certified copy of the resolution must be sent to us and must accompany the plan of termination when it is distributed to stockholders.
(b) Notice of meeting and distribution of plan. You must provide all equity holders with a notice of meeting and the plan of termination at least 45 days before the stockholder vote. You must also provide a copy of the plan to us when you provide it to your equity holders.