If a Farm Credit bank does not hold director elections in connection with an annual meeting, will the bank have to send out two AMISs that year?
Unlike associations, banks are not required to hold annual meetings, though it is a good practice. If the bank holds director elections separate from the annual meeting, then two AMIS’s will be issued-one for the annual meeting and one for the separate election. If a bank does not hold an annual meeting, then the bank will only need to send one AMIS for director elections that year.
