Edge and agreement corporations.

CFR · 2024-01-01 · US · Title 12

(a) (1) The establishment of Edge corporations; (2) Investments in agreement corporations; and (3) A member bank's proposal to invest more than 10 percent of its capital and surplus in the aggregate amount of stock held in all Edge and agreement corporations. (b) (2) (3) (4) (i) The financial condition and history of the applicant; (ii) The general character of its management; (iii) The convenience and needs of the community to be served with respect to international banking and financing services; and (iv) The effects of the proposal on competition. (5) (6) (c) (2) (i) A shareholders' meeting shall be convened at the request of the Board within five business days after the Board gives notice of the request to the Edge corporation; (ii) Any shareholder or group of shareholders that owns or controls 25 percent or more of the shares of the Edge corporation shall attend such a meeting in person or by proxy; and (iii) Failure by a shareholder or authorized representative to attend such meeting in person or by proxy may result in removal or barring of the shareholder or representative from further participation in the management or affairs of the Edge corporation. (3) (ii) (A) Name and describe each class of shares, indicating its character and any unusual attributes, such as preferred status or lack of voting rights; and (B) Conspicuously set forth the substance of: ( ( (4) (d) (2) (i) Provide the Board with information related to its financial condition and activities and such o

official document · source cfr-2024 · id 12:§ 211.5