[Federal Register Volume 63, Number 143 (Monday, July 27, 1998)]
[Notices]
[Page 40123]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19889]


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FARM CREDIT ADMINISTRATION


Farm Credit Administration Board Action to Approve a Plan of 
Voluntary Liquidation of AgCo Services Corporation and Cancel the 
Charter of AgCo Services Corporation

AGENCY: Farm Credit Administration.

ACTION: Notice.

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    On June 29, 1998, the Farm Credit Administration Board adopted FCA 
Board Action NV 98-26 authorizing the voluntary liquidation of AgCo 
Services Corporation (AgCo) without the appointment of a receiver 
pursuant to 12 CFR 627.2795(a), and the cancellation of AgCo's charter 
arising out of the voluntary liquidation of AgCo. The text of the FCA 
Board Action is set forth below: Farm Credit Administration (FCA) Board 
Action to Cancel the Charter of AGCO Services Corporation.
    Whereas, AgCo Services Corporation, chartered under section 4.25 of 
the Farm Credit Act of 1971 as amended, and originally organized by 
CoBank, ACB and AgAmerica, FCB for the purpose of consolidating their 
management information systems and electronic data processing 
functions, has not performed any of the services for which it was 
originally chartered for nearly two years;
    Whereas, the board of directors of AgCo Services Corporation has 
submitted a plan of voluntary liquidation pursuant to FCA Regulation 12 
CFR 627.2795(a) to liquidate the service corporation;
    Whereas, CoBank, ACB of Englewood, Colorado, as the sole remaining 
shareholder of AgCo Services Corporation, voted to voluntarily 
liquidate the service corporation pursuant to 12 CFR 627.2795; and
    Whereas, CoBank, ACB has agreed to assume all present and future 
liabilities and responsibilities in whatever form and substance as well 
as acquire the remaining assets of AgCo Services Corporation;
    Now, therefore, it is hereby ordered that: 
    1. The Charter of the AgCo Services Corporation is hereby canceled.
    2. The foregoing FCA Board action shall be effective at 5:00 p.m. 
EDT on July 22, 1998.

    Signed by Marsha Pyle Martin, Chairman, Farm Credit 
Administration Board, on June 29, 1998.

    Dated: July 21, 1998.
Floyd Fithian,
Secretary, Farm Credit Administration Board.
[FR Doc. 98-19889 Filed 7-24-98; 8:45 am]
BILLING CODE 6705-01-P