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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Federal Agricultural Mortgage Corporation | NYSE:AGM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.87 | 0.45% | 194.22 | 196.8299 | 193.38 | 195.00 | 33,491 | 01:00:00 |
Federally chartered instrumentality
of the United States
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001-14951
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52-1578738
|
(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
|
|
(IRS Employer Identification No.)
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1999 K Street, N.W., 4th Floor, Washington D.C.
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20006
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||
(Address of Principal Executive Offices)
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(Zip Code)
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•
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Article I, Section 2 (Name and Location of Offices—Principal Office and Other Offices)
: This Section was amended to authorize Farmer Mac's executive officers, in addition to the Board, to establish other offices in locations that they deem useful for the conduct of Farmer Mac's business.
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•
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Article III (Officers and Employees)
: The following amendments were made to this Article:
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◦
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Section 2 (Appointment and Confirmation)
: This Section was amended to delete language regarding the appointment and confirmation of the initial officers of Farmer Mac.
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◦
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Section 4 (Vacancies)
: This Section was amended to provide that the Chairman of the Board must consult with the Vice Chairman of the Board prior to filling any office appointed by the Board that becomes vacant.
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Section 8 (Chief Financial Officer)
: This Section was amended to clarify that Farmer Mac's Chief Executive Officer, in addition to the Board, may designate duties to be performed by Farmer Mac's Chief Financial Officer.
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•
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Article IV (Board of Directors)
: The following amendments were made to this Article:
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◦
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Section 9 (Chairman and Vice Chairman)
: This Section was amended to permit the Chairman of the Board or a majority of the Board to designate any other director to preside over Board meetings. This Section was also amended to delete the requirement that the Vice Chairman of the Board be selected from among the directors appointed by the President of the United States and to add the requirements that the Vice Chairman be "independent," as determined by the Board, at all times, and perform such duties and have such powers as designated by the Board from time to time.
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◦
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Section 10 (Standing Committees)
: This Section was amended to add the requirements that each standing committee consider any matters referred to it from time to time by the Board or by the Chairman of the Board, after consultation with the Vice Chairman of the Board, and perform any other duties designated by the Board from time to time.
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▪
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Section 10(c) (Corporate Governance Committee)
: This subsection was amended to require the Board's Chairman and Vice Chairman to serve on the Corporate Governance Committee as long as they are determined to be "independent" by the Board. This subsection was amended to further provide that if the
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▪
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Section 10(d) (Credit and Business Development Committee)
: This subsection was amended to delete the requirement that the Credit and Business Development Committee make recommendations to the Board about the commencement of new Farmer Mac programs and the modification or discontinuance of existing Farmer Mac programs and clarifies that the Credit and Business Development Committee is responsible for the development and monitoring of Farmer Mac's lines of business and credit products.
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◦
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Section 12 (Outside Advisors and Consultants)
: This Section was added to provide that the Board has the sole discretion and authority to retain and obtain the advice of outside independent advisors and consultants and to set the compensation and oversee the work of those advisors and consultants. This Section also provides that the Board will be entitled to receive appropriate funding from Farmer Mac to pay reasonable compensation to outside advisors and consultants.
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•
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Article IX (Contracts, Loans, Checks, Deposits and Statements)
: Section 1 (
Contracts
), Section 3 (
Checks, Drafts, etc.
), and Section 5 (
Investments
) were amended to authorize the Vice Chairman of the Board, in addition to the Chairman of the Board and officers of Farmer Mac, to enter into any contracts, to sign all checks, drafts, other orders for the payment of money, notes, and other evidence of indebtedness, and to invest Farmer Mac's funds, respectively, on behalf of Farmer Mac. Section 1 was further amended to also authorize the chair of any standing Board committee to enter into any contracts on behalf of Farmer Mac.
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3.1
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By-Laws of the Federal Agricultural Mortgage Corporation, as amended and restated by the Board of Directors through August 3, 2017
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1 Year Federal Agricultural Mor... Chart |
1 Month Federal Agricultural Mor... Chart |
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