MERGER OF SIMILAR ASSOCIATIONS.

SEC. 7.13. [12 U.S.C. 2279f–1] MERGER OF SIMILAR ASSOCIATIONS. (a) In General.—Associations may voluntarily merge with other like associations if the plan of merger is approved by— (1) the Farm Credit Administration Board; (2) the respective Boards of Directors of the associations involved; (3) a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders' meeting; and (4) the Farm Credit Banks involved. (b) Procedures.—The provisions of subsections (b) and (c) of section 7.8 shall apply to associations merged under this section.