2012 US Code
Title 12 - Banks and Banking
Chapter 23 - FARM CREDIT SYSTEM (§§ 2001 - 2279cc)
Subchapter VI - ASSISTANCE TO FARM CREDIT SYSTEM (§§ 2278a - 2278b-11)
Part A - Assistance Board (§§ 2278a - 2278a-13)
Section 2278a-13 - Transitional provisions
| Publication Title | United States Code, 2012 Edition, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER VI - ASSISTANCE TO FARM CREDIT SYSTEM Part A - Assistance Board Sec. 2278a-13 - Transitional provisions |
| Contains | section 2278a-13 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 92-181, title VI, §6.13, as added Pub. L. 100-233, title II, §201, Jan. 6, 1988, 101 Stat. 1594; amended Pub. L. 100-399, title II, §201(n), Aug. 17, 1988, 102 Stat. 991. |
| Statutes at Large References | 101 Stat. 1594 102 Stat. 991 |
| Public Law References | Public Law 92-181, Public Law 100-233, Public Law 100-399 |
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The powers of the Assistance Board under this subchapter shall be exercised by the Farm Credit Administration Board until the issuance of the charter of the Assistance Board, or such later date not to exceed 30 days thereafter, as may be requested by the Assistance Board.
(b) Limitation on assistanceAny assistance provided to System institutions by the Farm Credit Administration in accordance with this section shall be provided from, and shall not exceed, the amounts contained in the revolving fund established under section 2151 of this title.
(c) Issuance of stockEach institution that receives assistance from the Farm Credit Administration during the interim period specified in subsection (a) of this section, in consideration thereof, shall issue preferred stock to the Financial Assistance Corporation in an amount equal to the amount of such assistance. Payments by the Financial Assistance Corporation under subsection (d) of this section shall be considered to be payments to each such institution for such stock.
(d) RepaymentThe Financial Assistance Corporation shall pay to the Farm Credit Administration, for return to the revolving fund established under section 2151 of this title, the full amount of all financial assistance provided by the Farm Credit Administration in accordance with this section, from the proceeds from the sale of the first issue of obligations by the Financial Assistance Corporation in accordance with section 2278b–6 of this title.
(Pub. L. 92–181, title VI, §6.13, as added Pub. L. 100–233, title II, §201, Jan. 6, 1988, 101 Stat. 1594; amended Pub. L. 100–399, title II, §201(n), Aug. 17, 1988, 102 Stat. 991.)
Amendments1988—Subsec. (d). Pub. L. 100–399 inserted “, for return to the revolving fund established under section 2151 of this title,” before “the full”.
Effective Date of 1988 AmendmentAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.
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