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12 U.S.C. · Banks and Banking
12 U.S.C. § 2212

Powers of Farm Credit Administration

Ch. 23 — FARM CREDIT SYSTEM
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 23
Statutory Text

12 U.S.C. § 2212 — Powers of Farm Credit Administration

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition 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 From the U.S. Government Publishing Office, www.gpo.gov

§2212. Powers of Farm Credit Administration

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.

(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.

Source: uscode.house.gov — public domain Official Source ↗
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◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
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BS-USC12-SEC-768775
Entity Class
STATUTE / FEDERAL-CODE-SECTION
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boisestandard.org
Citation
12 U.S.C. § 2212
Jurisdiction
Federal — United States
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PRIMARY-SOURCE
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ef2a649c8bc2615f...
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The statutory text of 12 U.S.C. § 2212 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 23 — FARM CREDIT SYSTEM
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