2015 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 23 - Farm Credit System (Sections 2001 - 2279cc)
Subchapter III - Banks for Cooperatives (Sections 2121 - 2149a)
Part A - Banks for Cooperatives (Sections 2121 - 2134)
Sec. 2127 - Guaranty fund subscriptions in lieu of stock
| 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 SUBCHAPTER III - BANKS FOR COOPERATIVES Part A - Banks for Cooperatives Sec. 2127 - Guaranty fund subscriptions in lieu of stock |
| Contains | section 2127 |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 92-181, title III, §3.6, Dec. 10, 1971, 85 Stat. 604. |
| Statutes at Large Reference | 85 Stat. 604 |
| Public and Private Law | Public Law 92-181 |
Download PDF
If any cooperative association is not authorized under the laws of the State in which it is organized to take and hold stock in a bank for cooperatives, the bank shall, in lieu of any requirement for stock purchase, require the association to pay into or have on deposit in a guaranty fund, or the bank may retain out of the amount of the loan and credit to the guaranty fund account of the borrower, a sum equal to the amount of stock which the association would otherwise be required to own. Each reference to stock of the banks for cooperatives in this chapter shall include such guaranty fund equivalents. The holder of the guaranty fund equivalent and the bank shall each be entitled to the same rights and obligations with respect thereto as the rights and obligations associated with the class or classes of stock involved.
(Pub. L. 92–181, title III, §3.6, Dec. 10, 1971, 85 Stat. 604.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
