4290 Federal Register / Vol. 62, No. 19 / Wednesday, January 29, 1997 / Notices

organizers, senior executive officers,

directors, or principal shareholders. The

reports are also used to allow or

disapprove proposed acquisitions.

A task force of the Federal Financial

Institutions Examination Council has

adapted, reformatted, and retitled the

three reports, pursuant to the Riegle

Community Development and

Regulatory Improvement Act of 1994.

Comments were solicited in the Federal

Register on August 13, 1996 (61 FR

42085) and on November 29, 1996 (61

FR 60748). No comments were received

on any of the forms.

Board of Governors of the Federal Reserve

System, January 23, 1997.

William W. Wiles

Secretary of the Board.

[FR Doc. 97–2159 Filed 1–28–76; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL TRADE COMMISSION

Study to Assess the Effectiveness of

Commission Divestiture Orders

Information Collection Requirement

AGENCY: Federal Trade Commission.

ACTION: Notice of application to The

Office of Management and Budget

(OMB) under the Paperwork Reduction

Act (44 U.S.C. 3501 et seq.) for clearance

of a telephone survey, requests for

documents, and a questionnaire in

conjunction with a study of Commission

divestiture orders in merger cases.

SUMMARY: The application for OMB

review concerns information collection

to be undertaken in a study to assess the

effectiveness of Commission divestiture

orders in merger cases. The study will

assist the Commission in evaluating the

effectiveness of its merger enforcement

actions. Specifically, the study will

inform the Commission about whether

to modify its current divestiture

procedures so as to make divestitures

more timely and effective. The study

includes some collection of information

from the public by means of telephone

interviews, requests for documents, and

a limited questionnaire. All interviews

will be conducted on a voluntary basis.

All information will be collected on a

voluntary basis.

Staff will study a total of 49

divestitures arising out of 36 orders.

Staff have already contacted nine

buyers. Staff, thus, will contact another

40 buyers (plus any subsequent buyers

of the divested assets), 36 respondents,

and 147 third-parties (on average, three

per divestiture), for a total of 223

telephone interviews. Each interview

should take about one hour and 30

minutes to complete, for a total burden

estimate of approximately 335 hours.

After the telephone interviews, the

buyers of divested assets and the

respondents will be asked to submit

financial documents for a five-year

period beginning the year before the

divestiture occurred. Only documents

prepared in the ordinary course of

business will be requested. To the

extent that no such financial documents

exist, staff will not request that such

documents be prepared. Because only

documents already in existence will be

requested, the anticipated burden of

producing these documents will be

minimal, approximately two hours, per

participant, for a total of 170 hours (49

+ 36 = 85 × 2 = 170).

Staff will also ask that the

respondents and buyers complete a twoquestion chart that will request sales in

dollars and units of the product that was

the subject of the Commission’s initial

concern in the case over a five-year

period beginning the year before the

divestiture. Staff estimate that the

burden on each participant to provide

this information will be 4 hours, for a

total of 392 hours (49 buyers + 36

respondents asked about 49 divested

products = 98 × 4 = 392). The total

cumulative burden of the document

production will be 562 hours (392 +

170). The estimated total burden for the

entire study is therefore calculated to be

897 hours (335 + 562), which has been

rounded to 1000 hours to allow for

small additions such as subsequent

buyers of divested assets.

DATES: Comments on the proposed

study must be submitted on or before

February 28, 1997.

ADDRESSES: Send comments both to the

Office of Information and Regulatory

Affairs, Office of Management and

Budget, New Executive Office Building,

Room 3228, Washington, D.C. 20503,

ATN: Desk Officer of the Federal Trade

Commission and to the Federal Trade

Commission, Compliance Division,

ATN: Kenneth Davidson, Room S 2122,

N.W., Washington, D.C. 20508.

FOR FURTHER INFORMATION CONTACT:

Kenneth Davidson, Compliance

Division, Bureau of Competition,

Federal Trade Commission,

Washington, D.C. 20580 (202) 326–2863.

By direction of the Commission.

Donald S. Clark,

Secretary.

[FR Doc. 97–2208 Filed 1–28–97; 8:45 am]

BILLING CODE 6750–01–M

[File No. 932–3019]

Pre-Paid Legal Services, Inc.; Analysis

to Aid Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed Consent Agreement.

SUMMARY: In settlement of alleged

violations of federal law prohibiting

unfair or deceptive acts or practices and

unfair methods of competition, this

consent agreement, accepted subject to

final Commission approval, would

require, among other things, Pre-Paid to

pay $165 to any consumer who

purchased certain living trusts and who

has not already received a refund and

does not live in a state with which PrePaid has already settled. In addition,

Pre-Paid, would be prohibited from

making misrepresentations about living

trusts and would be required to make

certain disclosures with regard to legal

challenges that can be made against

living trusts; the possibility of probate

for certain estates regardless of whether

living trusts are used; and the transfer

of consumers’ assets into the trusts. The

agreement settles allegations that the

Pre-Paid made numerous false

statements about the benefits and

appropriateness of living trusts, in

general, and about living trusts it sold,

in particular.

DATES: Comments must be received on

or before March 31, 1997.

ADDRESSES: Comments should be

directed to: FTC/Office of the Secretary,

Room 159, 6th St. and Pa. Ave., N.W.,

Washington, D.C. 20580.

FOR FURTHER INFORMATION CONTACT:

Janice Charter, Federal Trade

Commission, Denver Regional Office,

1961 Stout Street, Suite 1523, Denver,

CO 80294. (303) 844–2272. Elizabeth

Palmquist, Federal Trade Commission,

Denver Regional Office, 1961 Stout

Street, Suite 1523, Denver, CO 80294.

(303) 844–2272.

SUPPLEMENTARY INFORMATION: Pursuant

to Section 6(f) of the Federal Trade

Commission Act, 38 Stat. 721, 15 U.S.C.

46, and Section 2.34 of the

Commission’s Rules of Practice (16 CFR

2.34), notice is hereby given that the

above-captioned consent agreement

containing a consent order to cease and

desist, having been filed with and

accepted, subject to final approval, by

the Commission, has been placed on the

public record for a period of sixty (60)

days. The following Analysis to Aid

Public Comment describes the terms of

the consent agreement, and the

allegations in the accompanying

complaint. An electronic copy of the

full text of the consent agreement

package can be obtained from the
Federal Register / Vol. 62, No. 19 / Wednesday, January 29, 1997 / Notices 4291

Commission Actions section of the FTC

Home Page (for January 16, 1997), on

the World Wide Web, at ‘‘http://

www.ftc.gov/os/actions/htm.’’ A paper

copy can be obtained from the FTC

Public Reference Room, Room H–130,

Sixth Street and Pennsylvania Avenue,

N.W., Washington, D.C. 20580, either in

person or by calling (202) 326–3627.

Public comment is invited. Such

comments or views will be considered

by the Commission and will be available

for inspection and copying at its

principal office in accordance with

Section 4.9(b)(6)(ii) of the Commission’s

Rules of Practice (16 CFR 4.9(b)(6)(ii)).

Analysis of Proposed Consent Order to

Aid Public Comment

The Federal Trade Commission has

agreed to accept, subject to final

approval, a proposed consent order

settling charges that Pre-Paid Legal

Services, Inc., violated Section 5 of the

Federal Trade Commission Act.

The proposed consent order has been

placed on the public record for sixty

(60) days for reception of comments by

interested persons. Comments received

during this period will become part of

the public record. After sixty (60) days,

the Commission will again review the

agreement and the comments received

and will decide whether it should

withdraw from the agreement or make

final the agreement’s proposed order.

This matter concerns the sale of living

trusts to senior citizens through

membership in the American

Association for Senior Citizens

(‘‘AASC’). The respondent covered by

the proposed order is Pre-Paid Legal

Services, Inc., the company responsible

for furnishing to and preparing the

living trusts for AASC.

The complaint alleges that the

respondent violated Section 5 of the

Federal Trade Commission Act by

making numerous misrepresentations

about the advantages of living trusts

over other forms of estate planning.

Specifically, the complaint alleges that

respondent has misrepresented that (1)

the use of a living trust avoids all

administrative costs; (2) at death, a

living trust ensures that assets are

distributed immediately or almost

immediately; (3) a living trust cannot be

challenged; (4) living trusts are prepared

by local attorneys; (5) a living trust

protects against catastrophic medical

costs; (6) a living trust is the appropriate

estate planning device for every

consumer; and (7) there are no

disadvantages to a living trust.

The proposed consent order contains

provisions which are designed to

remedy the alleged violations and to

prevent the respondent from engaging in

similar acts and practices in the future.

The proposed order would prohibit the

respondent from making the

misrepresentations alleged in the

complaint and set forth above.

Additionally, the order would require

the respondent to disclose to

prospective purchasers that living trusts

may be challenged on similar grounds

as wills and that they may not be

appropriate in all instances.

Under the order, the respondent also

would be required to provide four

affirmative disclosures in situations

where the statements would be true. (1)

Some states have created a mechanism

for ‘‘informal probate’’ of an estate if the

estate meets certain criteria, which

significantly reduces the time involved

in probate. This disclosure would be

required in states where informal

probate is available. (2) If the transfer of

an individual’s assets into the living

trust is not included in the price of

creating the living trust, that fact must

be disclosed. (3) If it is the sole

responsibility of the purchaser of the

living trust to transfer assets into the

trust, that fact must be disclosed. (4) In

some states, but not in others, creditors

have a longer period of time to file

claims against a living trust than against

a probated estate. This fact would have

to be disclosed in such states.

The proposed order would require the

respondent to distribute the proposed

order to its officers, agents, and all

personnel who participate in any way

with respondent’s sales activities

relating to living trusts. Additionally,

the order would require the respondent

to notify the Commission of any changes

in its corporate structure and to retain

for three years all materials that it relies

upon in making representations covered

by the order. Finally, the respondent is

required to file one or more compliance

reports detailing its compliance with the

order.

The proposed order also requires the

respondent to offer partial refunds to

any AASC member who has not

previously received a refund from either

the respondent or AASC.

The purpose of this analysis is to

facilitate public comment on the

proposed order, and it is not intended

to constitute an official interpretation of

the agreement and proposed order, nor

to modify in any way their terms. The

proposed consent order has been

entered into for settlement purposes

only and does not constitute an

admission by the respondent that the

law has been violated as alleged in the

complaint.

Donald S. Clark,

Secretary.

[FR Doc. 97–2206 Filed 1–28–97; 8:45 am]

BILLING CODE 6750–01–P

[File No. 962–3150]

Uno Restaurant Corporation, et al.;

Pizzeria Uno Corporation; Uno

Restaurants, Inc.; Analysis to Aid

Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed consent agreement.

SUMMARY: In settlement of alleged

violations of federal law prohibiting

unfair or deceptive acts or practices and

unfair methods of competition, this

consent agreement, accepted subject to

final Commission approval, would

prohibit, among other things, the

nationwide pizza restaurant chain from

misrepresenting the existence or amount

of fat or any other nutrient or substance

in pizzas or other food products

containing a baked crust. The agreement

settles allegations that advertising

touting the ‘‘Thinzettas’’ line of thin

crust pizzas as ‘‘low fat’’ was false and

misleading.

DATES: Comments must be received on

or before March 31, 1997.

ADDRESSES: Comments should be

directed to: FTC/Office of the Secretary,

Room 159, 6th St. and Pa. Ave., N.W.,

Washington, D.C. 20580.

FOR FURTHER INFORMATION CONTACT:

Phoebe Morse, Federal Trade

Commission, Boston Regional Office,

101 Merrimac St, Suite 810, Boston, MA

02114–4719. (617) 424–5960. John T.

Dugan, Federal Trade Commission,

Boston Regional Office, 101 Merrimac

St, Suite 810, Boston, MA 02114–4719.

(617) 424–5960.

SUPPLEMENTARY INFORMATION: Pursuant

to Section 6(f) of the Federal Trade

Commission Act, 38 Stat. 721, 15 U.S.C.

46, and § 2.34 of the Commission’s

Rules of Practice (16 CFR 2.34), notice

is hereby given that the above-captioned

consent agreement containing a consent

order to cease and desist, having been

filed with and accepted, subject to final

approval, by the Commission, has been

placed on the public record for a period

of sixty (60) days. The following

Analysis to Aid Public Comment

describes the terms of the consent

agreement, and the allegations in the

accompanying complaint. An electronic

copy of the full text of the consent

agreement package can be obtained from

the Commission Actions section of the

FTC Home Page (for January 22, 1997),