51464 Federal Register / Vol. 74, No. 193 / Wednesday, October 7, 2009 / Rules and Regulations 

(4) Require directors to disclose actual 

or apparent conflicts of interests and 

establish procedures for addressing such 

conflicts; 

(5) Require the establishment of 

internal controls to ensure that conflictof-interests reports are made and filed 

and that conflict-of-interests issues are 

disclosed and resolved; and 

(6) Establish procedures to monitor 

compliance with the conflict-of-interests 

policy. 

* * * * * 

(d) Gifts. No Bank director shall 

accept, and each Bank director shall 

discourage the director’s immediate 

family members from accepting, any gift 

that the director believes or has reason 

to believe is given with the intent to 

influence the director’s actions as a 

member of the Bank’s board of directors, 

or where acceptance of such gift would 

have the appearance of intending to 

influence the director’s actions as a 

member of the board. Any insubstantial 

gift would not be expected to trigger this 

prohibition. 

* * * * * 

■ 17. Revise § 1261.12 to read as 

follows: 

§ 1261.12 Reporting requirements for Bank 

directors. 

(a) Annual reporting. Annually, each 

Bank shall require each of its directors 

to execute and deliver to the Bank the 

appropriate director eligibility 

certification form prescribed by FHFA 

for the type of directorship held by such 

director. The Bank promptly shall 

deliver to FHFA a copy of the 

certification form delivered to it by each 

director. 

(b) Report of noncompliance. At any 

time that any director believes or has 

reason to believe that he or she no 

longer meets the eligibility requirements 

set forth in the Act or this subpart, the 

director promptly shall so notify the 

Bank and FHFA in writing. At any time 

that a Bank believes or has reason to 

believe that any director no longer 

meets the eligibility requirements set 

forth in the Act or this subpart, the Bank 

promptly shall notify FHFA in writing. 

■ 18. Revise § 1261.13 to read as 

follows: 

§ 1261.13 Ineligible Bank directors. 

Upon a determination by FHFA or a 

Bank that any director of the Bank no 

longer satisfies the eligibility 

requirements set forth in the Act or this 

part, or has failed to comply with the 

reporting requirements of § 1261.12, the 

directorship shall immediately become 

vacant. Any director that is determined 

to have failed to comply with any of 

these requirements shall not continue to 

serve as a Bank director. Whenever a 

Bank makes such a determination, the 

Bank promptly shall notify the Bank 

director and FHFA in writing. 

■ 19. Revise § 1261.14 to read as 

follows: 

§ 1261.14 Vacant Bank directorships. 

(a) Filling unexpired terms. (1) When 

a vacancy occurs on the board of 

directors of any Bank, the board of 

directors of the Bank shall elect, by a 

majority vote of the remaining Bank 

directors sitting as a board, an 

individual to fill the unexpired term of 

office of the vacant directorship, 

regardless of whether the remaining 

Bank directors constitute a quorum of 

the Bank’s board of directors. 

(2) The board of directors of the Bank 

may fill an anticipated vacancy prior to 

the effective date of the vacancy, 

provided the board does so no sooner 

than the date of the regularly scheduled 

board meeting that occurs immediately 

prior to the effective date of the 

vacancy. 

(3) The board of directors shall elect 

only an individual who satisfies all the 

eligibility requirements in the Act and 

in this subpart that applied to his or her 

predecessor and, for independent 

directorships, also satisfies any of the 

qualifications in the Act or this subpart. 

If a Bank does not have at least two 

sitting public interest independent 

directors, the board of directors of the 

Bank shall designate the directorship as 

a public interest directorship and shall 

elect an individual who satisfies a 

public interest independent directorship 

qualification in the Act or in this 

subpart. 

(b) Verifying eligibility. Prior to any 

election by the board of directors, the 

Bank shall obtain an executed member 

director eligibility certification form 

prescribed by FHFA from each 

individual being considered to fill a 

member directorship and an executed 

independent director application form 

prescribed by FHFA from each 

individual being considered to fill an 

independent directorship. Using the 

executed forms, each Bank shall verify 

each individual’s eligibility and, as to 

independent directors, also shall verify 

the individual’s qualifications. Before 

any independent director is elected by 

the board of directors of a Bank, the 

Bank shall deliver to FHFA for its 

review a copy of the application form of 

each individual being considered by the 

board. The Bank shall retain the 

information it receives in accordance 

with paragraphs (c) and (d) of § 1261.6. 

(c) Notification. Promptly after 

allowing the individual to assume the 

directorship, as provided in paragraph 

(b) of this section, a Bank shall notify 

FHFA and each member located in the 

Bank’s district in writing of the 

following: 

(1) For each member directorship 

filled by the board of a Bank, the name 

of the director, the name, location, and 

FHFA ID number of the member the 

director serves, the director’s title or 

position with the member, the voting 

State that the director represents, and 

the expiration date of the director’s term 

of office; and 

(2) For each independent directorship 

filled by the board of a Bank, the name 

of the director, the name and location of 

the organization with which the director 

is affiliated, if any, the director’s title or 

position with such organization, and the 

expiration date of the director’s term of 

office. 

§ 1261.16 [Removed and reserved] 

■ 20. Remove and reserve § 1261.16. 

Dated: September 30, 2009. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. E9–24063 Filed 10–6–09; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2009–0367; Directorate 

Identifier 2009–NE–10–AD; Amendment 39– 

16023; AD 2009–19–07] 

RIN 2120–AA64 

Airworthiness Directives; Teledyne 

Continental Motors O–470, IO–470, 

TSIO–470, IO–520, TSIO–520, IO–550, 

and IOF–550 Series Reciprocating 

Engines; Correction 

AGENCY: Federal Aviation 

Administration, DOT. 

ACTION: Final rule; correction. 

SUMMARY: The FAA is correcting 

airworthiness directive (AD) 2009–19– 

06, which published in the Federal 

Register on September 22, 2009. That 

AD applies to Teledyne Continental 

Motors O–470, IO–470, TSIO–470, IO– 

520, TSIO–520, IO–550, and IOF–550 

series reciprocating engines. The two 

references to the AD number are 

incorrect due to a software problem 

with the automated AD number 

assignment system. This document 

corrects those references. In all other 

respects, the original document remains 

the same. 


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Federal Register / Vol. 74, No. 193 / Wednesday, October 7, 2009 / Rules and Regulations 51465 

DATES: Effective October 7, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Anthony Holton, Engineer, Propulsion, 

Atlanta Aircraft Certification Office, 

FAA, Small Airplane Directorate, 1701 

Columbia Avenue, College Park, Georgia 

30337; e-mail: anthony.holton@faa.gov; 

telephone: (404) 474–5567; fax: (404) 

474–5606. 

SUPPLEMENTARY INFORMATION: On 

September 22, 2009, we published a 

final rule AD, FR Doc. E9–22287, in the 

Federal Register (74 FR 48141). That 

AD applies to Teledyne Continental 

Motors O–470, IO–470, TSIO–470, IO– 

520, TSIO–520, IO–550, and IOF–550 

series reciprocating engines. We need to 

make the following correction: 

§ 39.13 [Corrected]. 

■ On page 48141, in the second column, 

in the third line below 14 CFR Part 39, 

‘‘AD 2009–19–06’’ is corrected to read 

‘‘AD 2009–19–07’’. 

■ On page 48142, in the third column, 

in the eighth line below PART 39– 

AIRWORTHINESS DIRECTIVES, 

‘‘2009–19–06 Teledyne Continental 

Motors’’ is corrected to read ‘‘2009–19– 

07 Teledyne Continental Motors’’. 

Issued in Burlington, Massachusetts, on 

September 29, 2009. 

Peter A. White, 

Assistant Manager, Engine and Propeller 

Directorate, Aircraft Certification Service. 

[FR Doc. E9–24088 Filed 10–6–09; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket No. USCG–2009–0811] 

RIN 1625–AA00 

Safety Zone; Beachfest Fireworks, 

Pacific Ocean, San Diego, CA 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a safety zone, on the 

navigable waters of the Pacific Ocean 

near San Diego in support of the 

Beachfest Fireworks Display. This safety 

zone is necessary to provide for the 

safety of the participants, crew, 

spectators, participating vessels, and 

other vessels and users of the waterway. 

Persons and vessels are prohibited from 

entering into, transiting through, or 

anchoring within this safety zone unless 

authorized by the Captain of the Port, or 

his designated representative. 

DATES: This rule is effective from 8 p.m. 

to 10 p.m. on October 10, 2009. 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket USCG–2009– 

0811 and are available online by going 

to http://www.regulations.gov, inserting 

USCG–2009–0811 in the ‘‘Keyword’’ 

box, and then clicking ‘‘Search.’’ They 

are also available for inspection or 

copying at the Docket Management 

Facility (M–30), U.S. Department of 

Transportation, West Building Ground 

Floor, Room W12–140, 1200 New Jersey 

Avenue SE., Washington, DC 20590, 

between 9 a.m. and 5 p.m., Monday 

through Friday, except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

rule, call or e-mail Petty Officer Shane 

Jackson, Waterways Management, U.S. 

Coast Guard Sector San Diego; 

telephone 619–278–7262, e-mail 

Shane.E.Jackson@uscg.mil. If you have 

questions on viewing the docket, call 

Renee V. Wright, Program Manager, 

Docket Operations, telephone 202–366– 

9826. 

SUPPLEMENTARY INFORMATION: 

Regulatory Information 

The Coast Guard is issuing this 

temporary final rule without prior 

notice and opportunity to comment 

pursuant to authority under section 4(a) 

of the Administrative Procedure Act 

(APA) (5 U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that those procedures are 

‘‘impracticable, unnecessary, or contrary 

to the public interest.’’ Under 5 U.S.C. 

553(b)(B), the Coast Guard finds that 

good cause exists for not publishing a 

notice of proposed rulemaking (NPRM) 

with respect to this rule because any 

delay in the effective date of this rule 

would expose members of the public to 

the dangers associated with fireworks 

displays. Immediate action is necessary 

to ensure the safety of vessels, 

spectators, and other users of the 

waterway. 

For the same reasons, the Coast Guard 

also finds under 5 U.S.C. 553(d)(3) that 

good cause exists for making this rule 

effective less than 30 days after 

publication in the Federal Register. 

Background and Purpose 

Fireworks & Stage FX Inc is 

sponsoring the Beachfest Fireworks 

Display, which will include a fireworks 

presentation from Crystal Pier in the 

Pacific Beach neighborhood of San 

Diego, California. The safety zone will 

be a 600 foot radius around the end of 

the pier. This temporary safety zone is 

necessary to provide for the safety of the 

vessels, spectators, and other users of 

the waterway. 

Discussion of Rule 

The Coast Guard is establishing a 

safety zone that will be enforced from 8 

p.m. to 10 p.m. on October 10, 2009. 

The limits of the safety zone will be a 

600 foot radius around the end of 

Crystal Pier in the Pacific Beach 

neighborhood of San Diego, California. 

Persons and vessels will be prohibited 

from entering into, transiting through, or 

anchoring within this safety zone unless 

authorized by the Captain of the Port or 

his designated representative. 

Regulatory Analyses 

We developed this rule after 

considering numerous statutes and 

executive orders related to rulemaking. 

Below we summarize our analyses 

based on 13 of these statutes or 

executive orders. 

Regulatory Planning and Review 

This rule is not a significant 

regulatory action under section 3(f) of 

Executive Order 12866, Regulatory 

Planning and Review, and does not 

require an assessment of potential costs 

and benefits under section 6(a)(3) of that 

Order. The Office of Management and 

Budget has not reviewed it under that 

Order. 

Small Entities 

Under the Regulatory Flexibility Act 

(5 U.S.C. 601–612), we have considered 

whether this rule would have a 

significant economic impact on a 

substantial number of small entities. 

The term ‘‘small entities’’ comprises 

small businesses, not-for-profit 

organizations that are independently 

owned and operated and are not 

dominant in their fields, and 

governmental jurisdictions with 

populations of less than 50,000. 

The Coast Guard certifies under 5 

U.S.C. 605(b) that this rule will not have 

a significant economic impact on a 

substantial number of small entities. 

This rule will affect the following 

entities, some of which may be small 

entities: The owners or operators of 

vessels intending to transit or anchor in 

the affected portion of the Pacific Ocean 

from 8 p.m. to 10 p.m. on October 10, 

2009. 

This safety zone will not have a 

significant economic impact on a 

substantial number of small entities for 

the following reasons. This rule will be 

enforced in a small area for only two 

hours late in the evening when vessel 

traffic is low. Commercial vessels will 


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