[Federal Register Volume 62, Number 167 (Thursday, August 28, 1997)]
[Notices]
[Pages 45649-45650]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-22966]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

[Docket No. AS97-1]


Appraisal Subcommittee; Rules of Operation; Amendment

AGENCY: Appraisal Subcommittee, Federal Financial Institutions 
Examination Council.

ACTION: Notice of amended expedited vote procedures.

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SUMMARY: The Appraisal Subcommittee (``ASC'') of the Federal Financial 
Institutions Examination Council is amending Section 3.13 of its Rules 
of Operation, which governs the transaction of business by circulation 
of written items, i.e., by notation vote. As amended, the Section will 
allow each ASC member to vote in one of three ways: to approve, to 
disapprove or to veto. A vote to veto will require the issue to be 
placed on the agenda for the next scheduled ASC meeting. If a veto is 
not exercised, a majority will decide the matter, provided a quorum of 
ASC members participates in the voting process. In general, the Section 
previously required unanimous approval by all ASC members. A single 
member's ``no'' vote or failure to vote within a reasonable time 
operated as a veto.

EFFECTIVE DATE: Immediately.

FOR FURTHER INFORMATION CONTACT:
Ben Henson, Executive Director, or Marc L. Weinberg, General Counsel, 
at (202) 634-6520, via Internet e-mail at [email protected] and 
[email protected], respectively, or by U.S. Mail at Appraisal 
Subcommittee, 2100 Pennsylvania Avenue, N.W., Suite 200, Washington, 
D.C. 20037.

SUPPLEMENTARY INFORMATION: The ASC, on May 29, 1991, adopted Rules of 
Operation, which were published at 56 FR 28561 (June 21, 1991). The 
Rules of Operation describe, among other things, the organization of 
ASC meetings, notice requirements for meetings, quorum requirements and 
certain practices regarding the disclosure of information. The ASC, at 
its August 13, 1997 meeting, approved a total, substantive revision of 
Section 3.13 of the Rules of Operation, which deals with notation 
voting.

[[Page 45650]]

    The ASC is publishing new Section 3.13 to conform with 5 U.S.C. 
552(a)(1)(C), which requires the publication of agency rules of 
operation in the Federal Register. The notice and publication 
requirements of 5 U.S.C. 553 do not apply to the adoption of Section 
3.13 because it is a ``rule of agency organization, procedure, or 
practice'' exempt from the public notice and comment process under 5 
U.S.C. 553(b)(3)(A).
    Based on the foregoing, the ASC adopts new Section 3.13 of the 
Rules of Operation, as follows, effective immediately:

Rules of Operation

* * * * *

Article III--Members of the Subcommittee

* * * * *
    Section 3.13. Transaction of Business by Circulation of Written 
Items. Any other provision of these Rules to the contrary 
notwithstanding, business may be conducted by the Subcommittee by the 
circulation of written items to all members. The Secretary [the 
Executive Director], in consultation with the Chairperson: (1) Shall 
determine whether items qualify for this expedited voting method 
because they are routine, recurring or previously discussed at an ASC 
meeting; and (2) shall specify a deadline for the receipt of members' 
responses. Qualifying items may be transmitted in paper or electronic 
format. The Secretary (or the Secretary's designee) shall confirm each 
member's actual receipt of items, and the response period shall be 
measured from the day of actual receipt. Members may vote in one of 
three ways: approve, disapprove or veto.
    The matter shall be approved or disapproved by a majority vote of 
the members participating in the voting process, so long as the voting 
members comprise a quorum, as generally defined in Section 3.08(a). A 
vote to veto will cause the matter to be placed on the agenda of the 
next scheduled ASC meeting, as governed by Section 3.09. The 
disposition of each written item circulated for vote, including the 
vote of each member, shall be recorded in the minutes of the 
Subcommittee.
* * * * *
    By the Appraisal Subcommittee.

    Dated: August 21, 1997.
Herbert S. Yolles,
Chairman.
[FR Doc. 97-22966 Filed 8-27-97; 8:45 am]
BILLING CODE 6201-01-M