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 B - United and National Banks for Cooperatives (Sections 2141 - 2149a)
Sec. 2141 - Charter, powers, and operation
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 B - United and National Banks for Cooperatives Sec. 2141 - Charter, powers, and operation |
Contains | section 2141 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 92-181, title III, §3.20, as added Pub. L. 100-233, title IV, §415(2), Jan. 6, 1988, 101 Stat. 1642; amended Pub. L. 100-399, title IV, §407(a), (b), Aug. 17, 1988, 102 Stat. 1000. |
Statutes at Large References | 101 Stat. 1642 102 Stat. 1000 |
Public and Private Laws | Public Law 92-181, Public Law 100-233, Public Law 100-399 |
Download PDF
The National Bank for Cooperatives or the United Bank for Cooperatives, as the case may be (hereinafter in this part referred to as the "consolidated bank"), established under section 413 of the Agricultural Credit Act of 1987, shall be a federally chartered instrumentality of the United States and an institution of the Farm Credit System.
(b) PowersThe consolidated bank and the board of directors of such bank shall have all of the powers, rights, responsibilities, and obligations of the district banks for cooperatives and the Central Bank for Cooperatives and the boards of directors of such banks, except as otherwise provided for in this chapter.
(c) OperationThe consolidated bank shall be organized and operated on a cooperative basis.
(Pub. L. 92–181, title III, §3.20, as added Pub. L. 100–233, title IV, §415(2), Jan. 6, 1988, 101 Stat. 1642; amended Pub. L. 100–399, title IV, §407(a), (b), Aug. 17, 1988, 102 Stat. 1000.)
REFERENCES IN TEXTSection 413 of the Agricultural Credit Act of 1987, referred to in subsec. (a), is section 413 of Pub. L. 100–233, as amended, which is set out as a note under section 2121 of this title.
AMENDMENTS1988—Subsec. (a). Pub. L. 100–399, §407(a), struck out "in this section" after "referred to" and inserted ", established under section 413 of the Agricultural Credit Act of 1987," before "shall".
Subsec. (b). Pub. L. 100–399, §407(b), inserted "except" before "as otherwise".
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.
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.