Sec. 5506. Definition
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/bill/115/hr/2/pcs/section-5506A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5.35 of the Farm Credit Act of 1971 ( 12 U.S.C. 2271 ) is amended— by striking and at the end of paragraph (3); and by redesignating paragraph
(4)as paragraph
(5)and inserting after paragraph
(3)the following: the term institution-affiliated party means— any director, officer, employee, shareholder, or agent of a System institution; any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in— any violation of law (including regulations) that is associated with the operations and activities of 1 or more institutions; any breach of fiduciary duty; or any unsafe or unsound practice, which caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, a System institution; and any other person, as determined by the Farm Credit Administration (by regulation or on a case-by-case basis) who participates in the conduct of the affairs of a System institution; and .
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U.S. Code