2021 US Code
Title 12 - Banks and Banking
Chapter 23 - Farm Credit System
Subchapter V - Farm Credit Administration Organization
Part B - Farm Credit Administration Organization
Sec. 2259 - State legislation
| 12 U.S.C. § 2259 (2021) |
| §2259. State legislation |
|
Whenever it is determined by the Farm Credit Administration, or by judicial decision, that a State law is applicable to the obligations and securities authorized to be held by the institutions of the System under this chapter, which law would provide insufficient protection or inadequate safeguards against loss in the event of default, the Farm Credit Administration may declare such obligations or securities to be ineligible as collateral for the issuance of new notes, bonds, debentures, and other obligations under this chapter. |
|
(Pub. L. 92–181, title V, §5.24, formerly §5.25, Dec. 10, 1971, 85 Stat. 624; renumbered §5.24, Pub. L. 99–205, title II, §203(b), Dec. 23, 1985, 99 Stat. 1694.) |
| EDITORIAL NOTES
PRIOR PROVISIONS
A prior section 5.24 of Pub. L. 92–181 was renumbered section 5.23 and is classified to section 2258 of this title. |
| United States Code, 2018 Edition, Supplement 3, 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 V - FARM CREDIT ADMINISTRATION ORGANIZATION Part B - Farm Credit Administration Organization Sec. 2259 - State legislation |
| section 2259 |
| 2021 |
| January 3, 2022 |
| No |
| standard |
| 85 Stat. 624 99 Stat. 1694 |
| Public Law 92-181, Public Law 99-205 |
