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FEDERAL REGISTER

W e d n e s d a y , J u l y IS , 1952

CONTENTS Continued Rural Electrification Administration Continued
CODIFICATION GUIDECon.
Pas
NoticesContinued Loan announcements Con.
South Carolina 4 docu ments __________ 6442, 6443, 6446
6444
South Dakota____________
Tennessee 2 documents _ 6441, 6445
Texas 10 documents_______ 6441, 6443-6446
Utah_______________
6442
Vermont__ __________
6445
Virginia 2 documents __ 6442, 6444
Washington_________________ 6443
Wisconsin___________________ 6445

6450
6452
6451
6450

6432

Wage and Hour Division Notices:
Learner employment certifi cates; issuance to various industries___________________

6446

CODIFICATION GUIDE
A numerical list of the parts of the. Code of Federal Regulations affected by documents published In this Issue. Proposed rules, as opposed to final actions, are Identified as such.

Title 3
Chapter I I Executive orders:
10161 amended by EO 103731
10373_________

page 6425
6425.

Title 5
Chapter I :
Part 6_________________________

6425

Title 6
Chapter I:
Part 11 ______________________

6425

Title 7
Chapter I:
Part 44____________
Chapter I I I :
Part 319 proposed 2 docu ments __________________ 6432, Part 321 proposed_______ ____
Chapter V II:
Part 726____

6427
6434
6434
6428

Title 14
Chapter I:
Part 18______ ;____ _____ ______
Part 24__________________
Part 52_____
Chapter II :
Part 608___

6428
6428
6428
6428

Title 15
Chapter II I:
Part 384_____

6429

Title 32
Chapter X IV:
Fart 1453_____

Page
Title 38
Chapter I:
Part 4_________________________

6432

Title 39
6432
6432

Title 43

Veterans Administration Rules and regulations:
Dependents and beneficiaries claims; contested claims_____

Title 32A

Chapter I I I O P S :
CPR 7, Int. 1__________________ 6429
CPR 7, Int. 2___
6429
CPR 7, Int. 3________________ 6429
GOR 31________________
6429
Chapter V I N P A :
CMP Reg. 1,Dir. 12___________ 6430
6431
M-47B_________
Chapter X V I P M A :
DFO-1, SO 1_
6431

Chapter T :
Part 114_______________________
Part 127____________________

Securities and Exchange Com mission Notices :
Hearings, etc.:
Attleboro Steam and Electric Co. et al__.________________
Brewster, Edward Leroy, et alNew England Power Co______
United Corp____ ____________

6427

6429

Chapter I:
Appendix Public land orders:
854 _________

6432

Regulations, are hereby amended to read as follows :
11.30 Action by directors. The board of directors of each association to be consolidated shall take appropriate action to authorize the execution of a consolidation agreement and articles of association for each association to be created as a result of the agreement.
The board may designate one or more of its members to serve with representa tives of each of the boards of the other associations involved as an organization committee for the formation of the new association or associations. Each board of directors, or the representatives of each association on the organization committee pursuant to authority by the association board of directors, shall ex ecute on behalf of such associations the agreement of consolidation and articles of association on forms prescribed by the Commissioner and shall appoint not less than five or more than seven qualified persons to serve as directors for each association to be created as a result of the agreement, who will constitute the board of directors for the period inter vening from the date of organization to the date fixed in the bylaws for the first annual meeting of stockholders or until their successors are elected and have qualified.
11.31 Action by members. Meetings of association members shall be called in accordance with the provisions of the bylaws of the association. Notices of the meetings, containing a brief state ment of the proposal shall be mailed to each stockholder of record. A favor able vote of a majority of the members present and voting at each separate meeting shall be necessary for the ap proval of the proposed consolidation, and such members shall adopt resolutions ratifying and approving the execution of the agreement of the consolidation and articles of association in the name of the association.
The secretarytreasurer shall certify to the action taken at the meetings of members and his cer tificate shall set out the resolution adopted by the members ratifying the
execution of the consolidation agree ment.
11.32 C o m p l e t i n g consolidation.
Upon completion of the association ac tion, one set of organization papers for each association being organized, with the banks recommendation, and a financial statement for each constituent association and each consolidated asso ciation being created as a result of the agreement, shall be submitted to the Commissioner for consideration. Upon approval by the Commissioner, notice of such approval and the effective date of the consolidation will be sent to the bank and each consolidated association, and a charter will be issued to the new asso ciation or associations which will be for warded to the association or associations through the bank.
Upon receipt of the approval notice, the bank should provide assistance in transferring all assets in accordance with the consolida tion agreement, setting up the new books and establishing suchother procedures as may be found necessary. The trans fer of assets should be made the day following the effective date of the con solidation, if possible. The secretarytreasurer of each new association should take appropriate action to effect changes in stock issues, and should notify promptly each of the members that the consolidation has been approved. The charters of the constituent associations should be surrendered and sent to the Administration for cancelation. The Administration should be notified by the bank of the completion of the consolida tion upon the issuance of new bank stock to the new association or associations in exchange for the stock held by the con stituent associations.
11.33 Legal reserve requirement.
The legal reserve requirement for the new association or associations at the time of completion of the consolidation shall be the total of the unimpaired legal reserves of the constituent associations., Sec. 29, 39 Stat. 381; 12 U. S. C. 965
SEAL J

J. R . IsLEIB,
Land Bank Commissioner.
F. R. Doc. 52-7795; Filed, July 15, 1952;
fi:49 a. m.

TITLE 7 AGRICULTURE
Chapter I Production and Market ing Administration Standards, In spections, Marketing Practices, Department of Agriculture P art
44 S tandards
for S ugar a n d S u g a r c a n e P roducts
E d it o r ia l N o t e : In Part 44, appearing at 16 F. R. 5842, 8735, 17 F. R. 136, 6181, the part heading is changed to read as set forth above, and the part is divided into subparts as follows:
SUBPART A EDIBLE SUGARCANE MOLASSES

44.1-44.6
SUBPART B SUGARCANE SIRUP

44.21 44.26
SUBPART C REFINERS SIRUP

44.41-44.46