§4290.440. Standards governing prior approval for a proposed transfer of Control.
7 C.F.R. § 4290.440
The Agency's approval of a proposed transfer of Control is contingent upon full disclosure of the real parties in interest, the source of funds for the new owners' interest, and other data requested by the Agency. As a condition of approving a proposed transfer of control, the Agency may:
Require an increase in your Regulatory Capital;
Require the new owners or the transferee's Control Person(s) to assume, in writing, personal liability for your Leverage, effective only in the event of their direct or indirect participation in any transfer of Control not approved by the Agency; or
Require compliance with any other conditions set by the Agency, including compliance with the requirements for minimum capital and management-ownership diversity in effect at such time for new RBICs.
Notes, amendments, and revision history
Authority
Authority: 7 U.S.C. 1989 and 2009cc et seq.
Source
Source: 69 FR 32204, June 8, 2004, unless otherwise noted.