2016 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter I - Farm Credit Banks
Sec. 2021 - Loans through associations or agents
| 12 U.S.C. § 2021 (2016) |
| §2021. Loans through associations or agents |
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(a) In general
The Farm Credit Banks shall, except as otherwise herein provided, make loans of the type authorized under section 2015(a) of this title through a Federal land bank association chartered to serve the territory in which the real estate of the borrower is located. (b) No active associationIf there is no active association chartered to serve territory where the real estate is located, the bank may make the loan directly or through such bank or trust company or savings or other financial institution as such bank may designate. (c) Purchase of stock requiredWhen the loan is not made through a Federal land bank association, the applicant shall purchase stock in the bank in accordance with the capitalization requirements provided for in the bylaws of the bank. |
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(Pub. L. 92–181, title I, §1.13, as added Pub. L. 100–233, title IV, §401, Jan. 6, 1988, 101 Stat. 1628.) |
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PRIOR PROVISIONS
A prior section 1.13 of Pub. L. 92–181 was classified to section 2031 of this title prior to the general amendment of this subchapter by Pub. L. 100–233, §401. EFFECTIVE DATEPub. L. 100–233, title IV, §401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988. |
| United States Code, 2012 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 23 - FARM CREDIT SYSTEM SUBCHAPTER I - FARM CREDIT BANKS Sec. 2021 - Loans through associations or agents |
| section 2021 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 101 Stat. 1628, 1622 |
| Public Law 92-181, Public Law 100-233 |
