FR 8-27-97 Rules of Operation Amendment:
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
[Docket No. AS97-1]
APPRAISAL SUBCOMMITTEE; RULES OF OPERATION; AMENDMENT
AGENCY: Appraisal Subcommittee, Federal Financial Institutions Examination Council.
ACTION: Notice of amended expedited vote procedures.
SUMMARY: The Appraisal Subcommittee ("ASC") of the Federal Financial Institutions Examination Council is amending Section 3.13 of its Rules of Operation, which governs the transaction of business by circulation of written items, i.e., by notation vote. As amended, the Section will allow each ASC member to vote in one of three ways: to approve, to disapprove or to veto. A vote to veto will require the issue to be placed on the agenda for the next scheduled ASC meeting. If a veto is not exercised, a majority will decide the matter, provided a quorum of ASC members participates in the voting process. In general, the Section previously required unanimous approval by all ASC members. A single member's "no" vote or failure to vote within a reasonable time operated as a veto.
EFFECTIVE DATE: Immediately.
FOR FURTHER INFORMATION CONTACT: Ben Henson, Executive Director, or Marc L. Weinberg, General Counsel, at (202) 634-6520, via Internet e-mail at benh1@asc.gov and marcw1@asc.gov, respectively, or by U.S. Mail at Appraisal Subcommittee, 2100 Pennsylvania Avenue, N.W., Suite 200, Washington, D.C. 20037.
SUPPLEMENTARY INFORMATION:
The ASC, on May 29, 1991, adopted Rules of Operation, which were published at 56 FR 28561 (June 21, 1991). The Rules of Operation describe, among other things, the organization of ASC meetings, notice requirements for meetings, quorum requirements and certain practices regarding the disclosure of information. The ASC, at its August 13, 1997 meeting, approved a total, substantive revision of Section 3.13 of the Rules of Operation, which deals with notation voting.
The ASC is publishing new Section 3.13 to conform with 5 U.S.C. 552(a)(1)(C), which requires the publication of agency rules of operation in the Federal Register. The notice and publication requirements of 5 U.S.C. 553 do not apply to the adoption of Section 3.13 because it is a "rule of agency organization, procedure, or practice" exempt from the public notice and comment process under 5 U.S.C. 553(b)(3)(A).
Based on the foregoing, the ASC adopts new Section 3.13 of the Rules of Operation, as follows, effective immediately:
Rules of Operation
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Article III
Members of the Subcommittee
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Section 3.13. Transaction of Business by Circulation of Written Items. Any other provision of these Rules to the contrary notwithstanding, business may be conducted by the Subcommittee by the circulation of written items to all members. The Secretary [the Executive Director], in consultation with the Chairperson: (1) shall determine whether items qualify for this expedited voting method because they are routine, recurring or previously discussed at an ASC meeting; and (2) shall specify a deadline for the receipt of members' responses. Qualifying items may be transmitted in paper or electronic format. The Secretary (or the Secretary's designee) shall confirm each member's actual receipt of items, and the response period shall be measured from the day of actual receipt. Members may vote in one of three ways: approve, disapprove or veto. The matter shall be approved or disapproved by a majority vote of the members participating in the voting process, so long as the voting members comprise a quorum, as generally defined in Section 3.08(a). A vote to veto will cause the matter to be placed on the agenda of the next scheduled ASC meeting, as governed by Section 3.09. The disposition of each written item circulated for vote, including the vote of each member, shall be recorded in the minutes of the Subcommittee.
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By the Appraisal Subcommittee,
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Herbert S. Yolles, Chairman