12 C.F.R. § 611.320 Impartiality in the election of directors.
Title 12 - Banks and Banking
(a) Each System institution shall adopt policies and procedures that are designed to assure that the elections of board members are conducted in an impartial manner. (b) No employee or agent of a Farm Credit institution shall take any part, directly or indirectly, in the nomination or election of members to the board of directors of a Farm Credit institution, or make any statement, either orally or in writing, which may be construed as intended to influence any vote in such nominations, or elections. This paragraph shall not prohibit employees or agents from providing biographical and other similar information or engaging in other activities pursuant to policies and procedures for nominations and elections. This paragraph does not affect the right of an employee or agent to nominate or vote for stockholder-elected directors of an institution in which the employee or agent is a voting member. (c) No property, facilities, or resources of any System institution shall be used by any candidate for nomination or election or by any other person for the benefit of any candidate for nomination or election, unless the same property, facilities, or resources are simultaneously available and made known to be available for use by all declared candidates. (d) No director, employee, or agent of a System institution shall, for the purpose of furthering the interests of any candidates for nomination or election, furnish or make use of records that are not made available for use by all declared candidates. (e) No Farm Credit institution may in any way distribute or mail, whether at the expense of the institution or another, any campaign materials for director candidates. Institutions may request biographical information, as well as the disclosure information required under §620.21(d), from all declared candidates who certify that they are eligible, restate such information in a standard format, and distribute or mail it with ballots or proxy ballots. [53 FR 50392, Dec. 15, 1988, as amended at 71 FR 5761, Feb. 2, 2006]
Title 12: Banks and Banking
PART 611—ORGANIZATION
Subpart C—Election of Directors and Other Voting Procedures
§ 611.320 Impartiality in the election of directors.
