FCA review and approval—termination.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) Your stockholders have voted in favor of termination in the termination vote and in any reconsideration vote; (2) You have given us executed copies of all contracts, agreements, and other documents submitted under §§ 611.1221 and 611.1223; (3) You have paid or made adequate provision for payment of debts, including responsibility for any contingent liabilities, and for retirement of equities; (4) A Federal or State chartering authority has granted a new charter to the successor institution; (5) You deposit into escrow an amount equal to 110 percent of the estimated exit fee plus 110 percent of the estimated amount you must pay to retire equities of dissenting stockholders and Farm Credit institutions, as described in § 611.1255(c); and (6) You have fulfilled any condition of termination we impose. (d) (1) Fulfillment of all conditions listed in or imposed under paragraph (c) of this section; (2) Your proposed termination date; (3) Ninety (90) days after we receive your termination application described in § 611.1246; or (4) Fifteen (15) days after any reconsideration vote.

official document · source cfr-2024 · id 12:§ 611.1247