§2297d. Strategic plan for privatization

(a) In general

Within 2 years after the transition date, the Corporation shall prepare a strategic plan for transferring ownership of the Corporation to private investors. The Corporation shall revise the plan as needed.

(b) Consideration of alternative means of transferring ownership

The plan shall include consideration of alternative means for transferring ownership of the Corporation to private investors, including public stock offering, private placement, or merger or acquisition. The plan may call for the phased transfer of ownership or for complete transfer at a single point of time. If the plan calls for phased transfer of ownership, then-

(1) privatization shall be deemed to occur when 100 percent of ownership has been transferred to private investors;

(2) prior to privatization, such stock shall be nonvoting stock; and

(3) at the time of privatization, such stock shall convert to voting stock.

(c) Evaluation and recommendation

The plan shall evaluate the relative merits of the alternatives considered and the estimated return on the Government's investment in the Corporation achievable through each alternative. The plan shall include the Corporation's recommendation on its preferred means of privatization.

(d) Transmittal

The Corporation shall transmit copies of the strategic plan for privatization to the President and Congress upon completion.

(Aug. 1, 1946, ch. 724, title II, §1501, as added Oct. 24, 1992, Pub. L. 102–486, title IX, §901, 106 Stat. 2937 .)

Section Referred to in Other Sections

This section is referred to in section 2297d–1 of this title.