[Federal Register Volume 74, Number 98 (Friday, May 22, 2009)]
[Proposed Rules]
[Pages 23961-23962]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-12013]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 611, 613, 615, 619, and 620

RIN 3052-AC43


Organization; Eligibility and Scope of Financing; Funding and 
Fiscal Affairs, Loan Policies and Operations, and Funding Operations; 
Definitions; and Disclosure to Shareholders; Director Elections

AGENCY: Farm Credit Administration.

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: The Farm Credit Administration (FCA, Agency or we) is 
extending the comment period on the proposed rulemaking that seeks 
comments on proposed changes to the rules on Farm Credit System 
(System) bank and association director elections

[[Page 23962]]

and other voting procedures to clarify the director elections process, 
and to update the rules to incorporate interpretations made through 
recent bookletters to System institutions. We are extending the comment 
period so all interested parties will have additional time to provide 
comments.

DATES: You may send comments on or before August 14, 2009.

ADDRESSES: We offer a variety of methods for you to submit your 
comments. For accuracy and efficiency reasons, commenters are 
encouraged to submit comments by e-mail or through the FCA's Web site. 
As facsimiles (fax) are difficult for us to process and achieve 
compliance with section 508 of the Rehabilitation Act, we are no longer 
accepting comments submitted by fax. Regardless of the method you use, 
please do not submit your comment multiple times via different methods. 
You may submit comments by any of the following methods:
     E-mail: Send us an e-mail at [email protected].
     FCA Web site: http://www.fca.gov. Select ``Public 
Commenters,'' then ``Public Comments,'' and follow the directions for 
``Submitting a Comment.''
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Mail: Gary K. Van Meter, Deputy Director, Office of 
Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive, 
McLean, VA 22102-5090.

You may review copies of all comments we receive at our office in 
McLean, Virginia, or from our Web site at http://www.fca.gov. Once you 
are in the Web site, select ``Public Commenters,'' then ``Public 
Comments,'' and follow the directions for ``Reading Submitted Public 
Comments.'' We will show your comments as submitted, but for technical 
reasons we may omit items such as logos and special characters. 
Identifying information you provide, such as phone numbers and 
addresses, will be publicly available. However, we will attempt to 
remove e-mail addresses to help reduce Internet spam.

FOR FURTHER INFORMATION CONTACT:

Elna Luopa, Senior Corporate Analyst, Office of Regulatory Policy, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4498, TTY (703) 
883-4434; or
Laura D. McFarland, Senior Counsel, Office of General Counsel, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 
883-4020.

SUPPLEMENTARY INFORMATION: On April 16, 2009, FCA published a notice in 
the Federal Register seeking public comment on proposed changes to the 
rules governing director elections for System banks and associations 
and the related director elections process. See 74 FR 17612. The 
comment period is scheduled to expire on June 15, 2009. In a letter 
dated May 1, 2009, the Farm Credit Council, on behalf of System banks 
and associations, requested that the Agency extend the comment period 
for another 60 days to allow more time for the boards of directors of 
System banks and associations to consider the proposed rule and submit 
their comments. Several System associations submitted separate requests 
to extend the public comment period for an additional 60 days, noting 
that they will have only one board meeting at which to consider and 
discuss the issues before the comment period expires. Due to the wide-
ranging effect of the proposed rule on directors, director candidates, 
nominating committees, and the voting shareholders of System 
institutions, we have granted this request. The FCA supports public 
involvement and participation in its regulatory process and invites all 
interested parties to review and provide comments on our proposed rule.

    Dated: May 19, 2009.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E9-12013 Filed 5-21-09; 8:45 am]
BILLING CODE 6705-01-P