12 CFR 611.1220
§ 611.1220 Termination resolution.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 611.1220, § 611.1220 Termination resolution, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/47656
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ys:prov:47656@1- SHA-256
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Full text
No more than 1 week before you submit your plan of termination to us, your board of directors must adopt a termination resolution stating its support for terminating your status as a System institution and authorizing:
(a) Submission to us of a plan of termination and other required submissions that comply with § 611.1223; and
(b) Submission of the plan of termination to the voting stockholders if we approve the plan of termination under § 611.1230 or, if we take no action, after the end of our approval period.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.