(a) In general

Associations may voluntarily merge with other like associations if the plan of merger is approved by -

(1)

the Farm Credit Administration Board;

(2)

the respective Boards of Directors of the associations involved;

(3)

a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders' meeting; and

(4)

the Farm Credit Banks involved.

(b) Procedures

The provisions of subsections (b) and (c) of section 2279c-1 of this title shall apply to associations merged under this section