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12 U.S.C. · Banks and Banking
12 U.S.C. § 2219b

Application of uninsured accounts

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

12 U.S.C. § 2219b — Application of uninsured accounts

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 G - Miscellaneous Sec. 2219b - Application of uninsured accounts From the U.S. Government Publishing Office, www.gpo.gov

§2219b. Application of uninsured accounts

(a) In general Money of a borrower held by a Farm Credit System institution in an uninsured voluntary or involuntary account as authorized under regulations issued by the Farm Credit Administration (as in effect immediately before January 6, 1988), including all such other accounts known as "advanced payment accounts" or "future prepayment accounts" shall, in the event the institution is placed in liquidation, be immediately applied as payment against the indebtedness of any outstanding loans of such borrower. (b) Regulations The Farm Credit Administration shall promulgate regulations— (1) that define the term "uninsured voluntary or involuntary account"; and (2) to otherwise effectively carry out this section.

(Pub. L. 92–181, title IV, §4.37, as added Pub. L. 100–233, title I, §110, Jan. 6, 1988, 101 Stat. 1585.)

Editorial Notes

Codification Another section 4.37 of Pub. L. 92–181 was renumbered section 4.38 and is classified to section 2219c of this title.

Source: uscode.house.gov — public domain Official Source ↗
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boisestandard.org
Citation
12 U.S.C. § 2219b
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The statutory text of 12 U.S.C. § 2219b 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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← 12 U.S.C. § 2219a 12 U.S.C. § 2219c →
Ch. 23 — FARM CREDIT SYSTEM
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boisestandard.org → United States → Law → U.S. Code → Title 12 → 12 U.S.C. § 2219b