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Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 23 - Farm Credit System (Sections 2001 - 2279cc)
Front Matter
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| Publication Title | United States Code, 2012 Edition, Supplement 3, 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 - Front Matter |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
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PART A—PRODUCTION CREDIT ASSOCIATIONS
| 2071. | Organization and charters. |
| 2072. | Board of directors. |
| 2073. | General corporate powers. |
| 2074. | Production credit association capitalization. |
| 2075. | Short- and intermediate-term loans; participation; other financial assistance; terms; conditions; interest; security. |
| 2076. | Other services. |
| 2076a. | Liens on stock. |
| 2077. | Taxation. |
PART B—FEDERAL LAND BANK ASSOCIATIONS
| 2091. | Organizations; articles; charters; powers of the Farm Credit Administration. |
| 2092. | Board of directors. |
| 2093. | General corporate powers. |
| 2094. | Federal land bank association capitalization. |
| 2095. | Repealed. |
| 2096. | Agreements for sharing gains or losses. |
| 2097. | Liens on stock. |
| 2098. | Taxation. |
SUBCHAPTER III—BANKS FOR COOPERATIVESPART A—BANKS FOR COOPERATIVES
| 2121. | Establishment; titles; branches. |
| 2122. | Corporate existence; general corporate powers. |
| 2123. | Board of directors. |
| 2124. | Stock of banks for cooperatives. |
| 2125. | Dividends. |
| 2126. | Retirement of stock. |
| 2127. | Guaranty fund subscriptions in lieu of stock. |
| 2128. | Loans, commitments, and technical and financial assistance. |
| 2129. | Eligibility. |
| 2130. | Ownership of stock by borrowers. |
| 2131. | Loans. |
| 2132. | Earnings and reserves; application of savings. |
| 2133. | Distribution of assets on liquidation or dissolution. |
| 2134. | Taxation. |
PART B—UNITED AND NATIONAL BANKS FOR COOPERATIVES
| 2141. | Charter, powers, and operation. |
| 2142. | Board of directors provisions. |
| 2143. | Credit delivery office. |
| 2144. | Consolidation of functions. |
| 2145. | Exchange of ownership interests. |
| 2146. | Capitalization. |
| 2147. | Patronage pools. |
| 2148. | Transactions to accomplish merger. |
| 2149. | Lending limits. |
| 2149a. | Reports by merged banks for cooperatives. |
SUBCHAPTER IV—PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEMPART A—FUNDING
| 2151. | Revolving fund. |
| 2152. | Repealed. |
| 2153. | Power to borrow; issuance of notes, bonds, debentures, and other obligations. |
| 2154. | Capital adequacy of banks and institutions. |
| 2154a. | Capitalization of System institutions. |
| 2155. | Liability of banks; United States not liable. |
| 2156. | Repealed. |
| 2157. | Bonds as investments. |
| 2158. | Purchase and sale by Federal Reserve System. |
| 2159. | Purchase and sale of obligations; additional powers. |
| 2160. | Federal Farm Credit Banks Funding Corporation. |
| 2161. | Repealed. |
| 2162. | Protection of borrower stock. |
PART B—DISSOLUTION
| 2181, 2182. | Repealed. |
| 2183. | Dissolution; voluntary or involuntary liquidation; mergers; receiverships or conservators. |
| 2184. | Communications with stockholders. |
PART C—RIGHTS OF BORROWERS; LOAN RESTRUCTURING
| 2199. | Disclosure. |
| 2200. | Access to documents and information. |
| 2201. | Notice of action on application. |
| 2202. | Reconsideration of actions. |
| 2202a. | Restructuring distressed loans. |
| 2202b. | Effect of restructuring on borrower stock. |
| 2202c. | Review of restructuring denials. |
| 2202d. | Protection of borrowers who meet all loan obligations. |
| 2202e. | Waiver of mediation rights by borrowers. |
PART D—ACTIVITIES OF INSTITUTIONS OF THE SYSTEM
| 2203. | Nomination of association directors; representative selection of nominees. |
| 2204. | Repealed. |
| 2205. | Interest rates. |
| 2206. | Participation loans. |
| 2206a. | Authority of Farm Credit Banks and direct lender associations to participate in loans to similar entities for risk management purposes. |
| 2207. | Young, beginning, and small farmers and ranchers. |
| 2208. | Prohibition against use of signed ballots. |
| 2209. | Compensation of bank directors. |
PART E—SERVICE ORGANIZATIONS
| 2211. | Establishment. |
| 2212. | Powers of Farm Credit Administration. |
| 2213. | Regulation and examination. |
| 2214. | State laws. |
| 2214a. | "Bank" defined. |
PART D1—FARM CREDIT SYSTEM CAPITAL CORPORATION
| 2216 to 2216k. | Repealed. |
PART F—SALE OF INSURANCE
| 2218. | Lines of insurance. |
PART G—MISCELLANEOUS
| 2219. | Limitation on separate sale. |
| 2219a. | Right of first refusal. |
| 2219b. | Application of uninsured accounts. |
| 2219c. | Affirmative action. |
| 2219d. | Encouragement of conservation practices. |
| 2219e. | Liability for making criminal referrals. |
SUBCHAPTER V—FARM CREDIT ADMINISTRATION ORGANIZATIONPART A—DISTRICT ORGANIZATION
| 2221 to 2227. | Transferred or Repealed. |
PART B—FARM CREDIT ADMINISTRATION ORGANIZATION
| 2241. | Farm Credit Administration. |
| 2242. | Farm Credit Administration Board. |
| 2243. | Powers of Board. |
| 2244. | Chairman; responsibilities; governing standards. |
| 2245. | Organization of Farm Credit Administration. |
| 2246. | Advisory committees. |
| 2247. | Repealed. |
| 2248. | Seal of the Farm Credit Administration. |
| 2249. | Administrative expenses. |
| 2250. | Farm Credit Administration operating expenses fund. |
| 2251. | Quarters and facilities for the Farm Credit Administration. |
| 2252. | Powers and duties. |
| 2253. | Prior delegations. |
| 2254. | Examinations. |
| 2255. | Conditions of other banks and lending institutions. |
| 2256. | Consent to the availability of reports and to examinations. |
| 2257. | Reports on conditions of institutions receiving loans or deposits. |
| 2257a. | Uniform financial reporting instructions. |
| 2258. | Jurisdiction. |
| 2259. | State legislation. |
| 2260. | Transferred. |
PART C—ENFORCEMENT POWERS OF FARM CREDIT ADMINISTRATION
| 2261. | Cease and desist proceedings. |
| 2262. | Temporary cease and desist orders. |
| 2263. | Enforcement of temporary cease and desist orders. |
| 2264. | Suspension or removal of director or officer. |
| 2265. | Suspension or removal of director or officer charged with felony. |
| 2266. | Hearings and judicial review. |
| 2267. | Jurisdiction and enforcement. |
| 2268. | Penalty. |
| 2269. | Further penalties. |
| 2270. | Replacement of suspended or removed directors. |
| 2271. | Definitions. |
| 2272. | Notice of service. |
| 2273. | Ancillary provisions; subpena power; etc. |
| 2274. | Power to remove directors and officers. |
PART D—MISCELLANEOUS
| 2275. | Government Accountability Office audit; report to Congress. |
| 2275a. | Transition rules relating to amendment of certain FCA approval authorities. |
| 2276. | Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions. |
PART E—FARM CREDIT SYSTEM INSURANCE CORPORATION
| 2277a. | Definitions. |
| 2277a–1. | Establishment of Farm Credit System Insurance Corporation. |
| 2277a–2. | Board of Directors. |
| 2277a–3. | Commencement of insurance. |
| 2277a–4. | Premiums. |
| 2277a–5. | Certification of premiums. |
| 2277a–6. | Overpayment and underpayment of premiums; remedies. |
| 2277a–7. | General corporate powers. |
| 2277a–8. | Conduct of corporate affairs; examination of System institutions. |
| 2277a–9. | Insurance Fund. |
| 2277a–10. | Powers of Corporation with respect to troubled insured System banks. |
| 2277a–10a. | Oversight actions by Corporation. |
| 2277a–10b. | Authority to regulate golden parachute and indemnification payments. |
| 2277a–11. | Investment of funds. |
| 2277a–12. | Exemption from taxation. |
| 2277a–13. | Omitted. |
| 2277a–14. | Prohibitions. |
SUBCHAPTER VI—ASSISTANCE TO FARM CREDIT SYSTEMPART A—ASSISTANCE BOARD
| 2278a. | Establishment of Board. |
| 2278a–1. | Purposes. |
| 2278a–2. | Board of Directors. |
| 2278a–3. | Corporate powers. |
| 2278a–4. | Certification of eligibility to issue preferred stock. |
| 2278a–5. | Assistance. |
| 2278a–6. | Special powers. |
| 2278a–7. | Administration. |
| 2278a–8. | Limitation of powers. |
| 2278a–9. | Succession. |
| 2278a–10. | Effect of regulations; audits. |
| 2278a–11. | Exemption from taxation. |
| 2278a–12. | Termination. |
| 2278a–13. | Transitional provisions. |
PART B—FINANCIAL ASSISTANCE CORPORATION
| 2278b. | Establishment of Corporation. |
| 2278b–1. | Purpose. |
| 2278b–2. | Board of Directors. |
| 2278b–3. | Stock. |
| 2278b–4. | Corporate powers. |
| 2278b–5. | Accounts. |
| 2278b–6. | Debt obligations. |
| 2278b–7. | Preferred stock. |
| 2278b–8. | Payments. |
| 2278b–9. | One-time stock purchase. |
| 2278b–10. | Exemption from taxation. |
| 2278b–11. | Termination. |
SUBCHAPTER VII—RESTRUCTURING OF SYSTEM INSTITUTIONSPART A—MERGER OF BANKS WITHIN A DISTRICT
| 2279a. | Power to merge. |
| 2279a–1. | Board of directors. |
| 2279a–2. | Powers of merged banks. |
| 2279a–3. | Capitalization. |
| 2279a–4, 2279a–5. Repealed or Transferred. |
PART B—MERGERS, TRANSFERS OF ASSETS, AND POWERS OF ASSOCIATIONS WITHIN A DISTRICTSUBPART 1—TRANSFERS BY FEDERAL LAND BANKS TO FEDERAL LAND BANK ASSOCIATIONS
| 2279b. | Transfer of lending authority. |
| 2279c. | Equalization of loan-making powers of certain district associations. |
SUBPART 2—MERGER OF LIKE AND UNLIKE ASSOCIATIONS
| 2279c–1. | Merger of associations. |
SUBPART 3—RECONSIDERATION
| 2279c–2. | Reconsideration. |
SUBPART 4—TERMINATION AND DISSOLUTION OF INSTITUTIONS
| 2279d. | Termination of System institution status. |
PART C—APPROVAL OF DISCLOSURE INFORMATION AND ISSUANCE OF CHARTERS BY THE FARM CREDIT ADMINISTRATION BOARD
| 2279e. | Approval of disclosure information and issuance of charters. |
PART D—MERGERS OF LIKE ENTITIES
| 2279f. | Merger of similar banks. |
| 2279f–1. | Merger of similar associations. |
PART E—TAXATION OF MERGER TRANSACTIONS
| 2279g. | Transactions to accomplish mergers exempt from certain State taxes. |
SUBCHAPTER VIII—AGRICULTURAL MORTGAGE SECONDARY MARKET
| 2279aa. | Definitions. |
PART A—ESTABLISHMENT AND ACTIVITIES OF FEDERAL AGRICULTURAL MORTGAGE CORPORATION
| 2279aa–1. | Federal Agricultural Mortgage Corporation. |
| 2279aa–2. | Board of directors. |
| 2279aa–3. | Powers and duties of Corporation and Board. |
| 2279aa–4. | Stock issuance. |
| 2279aa–5. | Certification of agricultural mortgage marketing facilities. |
| 2279aa–6. | Guarantee of qualified loans. |
| 2279aa–7. | Repealed. |
| 2279aa–8. | Standards for qualified loans. |
| 2279aa–9. | Exemption from restructuring and borrowers rights provisions for pooled loans. |
| 2279aa–10. | Funding for guarantee; reserves of Corporation. |
| 2279aa–11. | Supervision, examination, and report of condition. |
| 2279aa–12. | Securities in credit enhanced pools. |
| 2279aa–13. | Authority to issue obligations to cover guarantee losses of Corporation. |
| 2279aa–14. | Federal jurisdiction. |
PART B—REGULATION OF FINANCIAL SAFETY AND SOUNDNESS OF FEDERAL AGRICULTURAL MORTGAGE CORPORATION
| 2279bb. | Definitions. |
| 2279bb–1. | Risk-based capital levels. |
| 2279bb–2. | Minimum capital level. |
| 2279bb–3. | Critical capital level. |
| 2279bb–4. | Enforcement levels. |
| 2279bb–5. | Mandatory actions applicable to level II. |
| 2279bb–6. | Supervisory actions applicable to level III. |
| 2297bb–7. | Recapitalization of Corporation. |
PART C—RECEIVERSHIP, CONSERVATORSHIP, AND LIQUIDATION OF FEDERAL AGRICULTURAL MORTGAGE CORPORATION
| 2279cc. | Conservatorship; liquidation; receivership. |
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