12 C.F.R. § 611.1240 Voting record date and stockholder approval.
Title 12 - Banks and Banking
(a) Stockholder meeting. You must call the meeting by written notice in compliance with your bylaws. The stockholder meeting to vote on the termination must occur within 60 days of our preliminary approval (or, if we take no action, within 60 days of the end of our approval period). (b) Voting record date. The voting record date may not be more than 70 days before the stockholders' meeting. (c) Information statement. You must provide all equity holders with a notice of meeting and the information statement required by §611.1223 at least 30 days before the stockholder vote. (d) Voting procedures. The voting procedures must comply with §611.330. You must have an independent third party count the ballots. If a voting stockholder notifies you of the stockholder's intent to exercise dissenters' rights, the tabulator must be able to verify to you that the stockholder voted against the termination. Otherwise, the votes of stockholders must remain confidential. (e) Notice to FCA and equity holders of voting results. Within 10 days of the termination vote, you must send us a certified record of the results of the vote. You must notify all equity holders of the results within 30 days after the stockholder meeting. If the stockholders approve the termination, you must give the following information to equity holders: (1) Stockholders who voted against termination and equity holders who were not entitled to vote have a right to dissent as provided in §611.1280; and (2) Voting stockholders have a right, under §611.1245, to file a petition with the FCA for reconsideration within 35 days after the date you mail to them the notice of the results of the termination vote. (f) Requirement to notify new equity holders. You must provide the information described in paragraph (e)(1) of this section to each person that becomes an equity holder after the termination vote and before termination.
Title 12: Banks and Banking
PART 611—ORGANIZATION
Subpart P—Termination of System Institution Status
§ 611.1240 Voting record date and stockholder approval.
