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REGISTER

EDEML
VW

VOLUME 10

1934

O /V IT E O

,
NUMBER 159

,
Washington Friday August 10K1945
Regulations TITLE 6AGRICULTURAL CREDIT
Chapter IFarm Credit Administration P art 11N ational F arm Loan A ssociations MERGER OF SHAREHOLDER GROUPS

Section 11.375 of Chapter I, Title 6, Code of Federal Regulations, is hereby amended to read as follows:
11.375 Procedure. Whenever, in an association authorized to operate under section 25 b of the Farm Credit Act of 1937, all impairment is removed in the stock owned by shareholders in group 1, and there is no impairment in the stock owned by shareholders in group 2, such groups may merge in the manner hereinafter set forth:
a The board of directors of the as sociation shall call separate special meetings of the shareholders of group 1
and the shareholders of group 2 for the purpose of considering a proposed resolu tion of merger in a form prescribed by the Administration. Such meetings shall be called and held in accordance with the provisions of the associations bylaws applicable to meetings of associa tion shareholders. The notice of the meetings shall contain a statement that a merger of the two groups of associa tion shareholders will be voted upon and should contain a brief statement of the nature and effect of the proposal. At these meetings the effect of the pro posed merger should be fully explained to the shareholders.
b The approval of a majority of the shareholders present and voting at each meeting at which the resolution of merg er is considered shall be requisite for the adoption of such resolution.
c At least three copies of such reso lution shall be prepared, and, when the resolution has been duly adopted by both groups, two copies shall be forwarded to the bank.
d The bank may request an exami nation of the association either on or be fore the adoption of the merger resolu tion. An examination may be required by the Land Bank Commissioner at any
CONTENTS
REGULATIONS AND NOTICES
Agriculture D epartment. See also Commodity Credit Corpora tion and Farm Credit Admin istration.
Page Beans, restriction on deliveries WFO 45, Am. 9_____
9914
Salaries and wages of agricul tural labor in California;
production and harvesting of apples_______________ 9915

stage in the proceedings if it appears necessary in the interests of the share holders.
e The bank shall forward to the Ad ministration one copy of the resolution, a current financial statement of groups 1 and 2, and its recommendation as to whether the merger should be approved.
f No merger shall be effective unless or until it has been approved by the Com missioner. If the merger resolution is approved by the Commissioner, the effec tive date will be specified in his written approval and the bank and association will be notified of the approval, and ef fective date by letter. Upon receipt of the approval notice the bank shall take such steps as it deems necessary to assist the secretary-treasurer of the association in consolidating the accounts and rec ords of the two groups pursuant to the merger resolution. Such consolidation of accounts and records shall be made as of the close of business on the effective date of the merger. As soon as the merger has been completed, the secre tary-treasurer shall notify each of the members of the association that the merger has been effected. A copy of that notice shall be sent to the AdminJstration.
Sec. 6, 47 Stat. 14; sec. 25 b, 50,Stat.
711; 12 U.S.C. 665, 724 d S E A L
J. R. ISL E IB , Acting Land Bank Commissioner.

A lien P roperty Custodian :

General orders; prohibitions of transactions, appointment of agents, and delegation of authority_____.-------------- 9914
Civil A eronautics B oard:

Hearings:
Pan American Airways, Inc., and Wien Alaska Airlines, Inc.; Fairbanks - Nome intermediate points pro ceeding_______JL--------- 9931
Wien Alaska Airlines, Inc., et al.; Gambell-ShungnakBarrow mail service------ 9931
Commodity Credit Corporation:

Sheep and lamb production pay ments________ - ________ 9911
F arm Credit A dministration:

National Farm Loan Assn.;
m e r g e r of shareholder groups_________________ 9911
F ederal T rade Commission :

Peggy Shops, Inc., etc., cease and desist order_________ 9915

F. R. Doc. 45-14655; Filed, Aug. 8, 1945;
3:20 p. m.

F oreign E conomic A dministration:

Limited production licenses:
Farm machinery__________
Small caliber ammunition__

Chapter IIDepartment of Agriculture, Commodity Credit Corporation
G eneral L and O ffice :

Oregon; filing of plats of re survey and supplemental plats__________________
Public lands, opening:
Idaho___________________
Montana________________

P art 270S heep and L amb P roduction P ayments OFFER TO MAKE PAYMENTS

Sec.
270.1
270.2
270.3
270.4
270.5
270.6
270.7
270.8
270.9

Introduction.
Definitions.
Payments.
Duplicate payments.
Rates of payments.
Prerequisites for payments.
Method of payment.
Right to declare claims invalid.
Assignment and set-off.
Continued on p. 9913

9916
9916

9930
9931
9930

I nterstate Commerce Commission :

Anthracite_________________ 9929
Bituminous coal___________
9929
Icing of potatoes:
Greenport, Long Island, N. Y.
and Hightstown, N. J ----- 9932
Greenville Piers, N. J ---------- 9931
-

m Continued on p. 8912

9911