2020 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter IV - Provisions Applicable to Two or More Classes of Institutions of the System
Part E - Service Organizations
Sec. 2212 - Powers of Farm Credit Administration
| 12 U.S.C. § 2212 (2020) |
| §2212. Powers of Farm Credit Administration |
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The Farm Credit Administration shall have power, under rules and regulations prescribed by the Farm Credit Administration, to provide for the organization of any corporation chartered under this part and the territory within which its operations may be carried on, and to approve amendments consistent with this chapter to charters or articles of service corporations. |
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(Pub. L. 92–181, title IV, §4.26, as added Pub. L. 96–592, title IV, §404, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 99–205, title II, §205(f)(9), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 100–233, title VIII, §802(s), Jan. 6, 1988, 101 Stat. 1712.) |
| EDITORIAL NOTES
AMENDMENTS
1988—Pub. L. 100–233 struck out "or by prescribing in the terms of the charter or by approval of the bylaws of the corporation" after second reference to Farm Credit Administration, substituted "approve amendments consistent with this chapter to charters or articles of service corporations" for "direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter", and struck out last sentence which read as follows: "The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of— "(1) corporate title; "(2) general corporate powers; "(3) eligibility for membership on, and the powers, composition, selection, terms, and compensation of the board of directors; "(4) classes, issuance, value, and retirement of stock; "(5) sources of operating funds; "(6) dissolution, liquidation, and distribution of assets on liquidation; and "(7) application and distribution of earnings." 1985—Pub. L. 99–205 substituted "Farm Credit Administration" for "Governor" in heading and wherever appearing in text, and substituted "the Federal Credit Administration" for "he" before "finds necessary" in first sentence. STATUTORY NOTES AND RELATED SUBSIDIARIES EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. |
| United States Code, 2018 Edition, Supplement 2, 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 IV - PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM Part E - Service Organizations Sec. 2212 - Powers of Farm Credit Administration |
| section 2212 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 94 Stat. 3447 99 Stat. 1706 101 Stat. 1712 |
| Public Law 92-181, Public Law 96-592, Public Law 99-205, Public Law 100-233 |
