Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · STATUTE-COMPILATIONS · Agriculture Improvement Act of 2018 · Sec. 5411

Sec. 5411. REPEAL OF OBSOLETE PROVISIONS; TECHNICAL CORRECTIONS

3,276 words·~15 min read·/statute-compilations/comps-15214/sec-5411

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 5411 REPEAL OF OBSOLETE PROVISIONS; TECHNICAL CORRECTIONS ####
(1)Section 1.1(c) of the Farm Credit Act of 1971 (12 U.S.C. 2001(c)) is amended in the first sentence by striking “including any costs of defeasance under section 4.8(b),”. ####
(2)Section 1.2 of the Farm Credit Act of 1971 (12 U.S.C. 2002) is amended by striking subsection
(a)and inserting the following: > > ### “(a) Composition > > The Farm Credit System shall include the Farm Credit Banks, the bank for cooperatives, Agricultural Credit Banks, the Federal Land Bank Associations, the Federal Land Credit Associations, the Production Credit Associations, the agricultural credit associations, the Federal Farm Credit Banks Funding Corporation, the Federal Agricultural Mortgage Corporation, service corporations established pursuant to section 4.25, and such other institutions as may be made a part of the Farm Credit System, all of which shall be chartered by and subject to regulation by the Farm Credit Administration.” > . ####
(3)Section 2.4 of the Farm Credit Act of 1971 (12 U.S.C. 2075) is amended by striking subsection (d). ####
(4)Section 3.0(a) of the Farm Credit Act of 1971 (12 U.S.C. 2121(a)) is amended— #####
(A)in the third sentence, by striking “and a Central Bank for Cooperatives”; and #####
(B)by striking the fifth sentence. ####
(5)Section 3.2 of the Farm Credit Act of 1971 (12 U.S.C. 2123) is amended— #####
(A)in subsection (a)— ######
(i)in paragraph (1), by striking “not merged into the United Bank for Cooperatives or the National Bank for Cooperatives”; and ######
(ii)in paragraph (2)(A), in the matter preceding clause (i), by striking “(other than the National Bank for Cooperatives)”; #####
(B)by striking subsection (b); #####
(C)in subsection (a)— ######
(i)by striking “ (a)(1) Each bank ” and inserting the following: > > ### “(a) In General > > Each bank” > ; and ######
(ii)by striking “ (2)(A) If approved ” and inserting the following: > > ### “(b) Nomination and Election > > > #### “(1) In general > > If approved” > ; #####
(D)in subsection (b)(1) (as so designated)— ######
(i)in subparagraph (B), by striking “
(B)The total ” and inserting the following: > > #### “(2) Number of votes > > The total” > ; and ######
(ii)by redesignating clauses
(i)and
(ii)as subparagraphs
(A)and (B), respectively, and indenting appropriately; and #####
(E)in paragraph
(2)(as so designated), by striking “paragraph” and inserting “subsection”. ####
(6)Section 3.5 of the Farm Credit Act of 1971 (12 U.S.C. 2126) is amended in the third sentence by striking “district”. ####
(7)Section 3.7(a) of the Farm Credit Act of 1971 (12 U.S.C. 2128(a)) is amended by striking the second sentence. ####
(8)Section 3.8(b)(1)(A) of the Farm Credit Act of 1971 (12 U.S.C. 2129(b)(1)(A)) is amended by inserting “(or any successor agency)” after “Rural Electrification Administration”. ####
(9)Section 3.9(a) of the Farm Credit Act of 1971 (12 U.S.C. 2130(a)) is amended by striking the third sentence. ####
(10)Section 3.10 of the Farm Credit Act of 1971 (12 U.S.C. 2131) is amended— #####
(A)in subsection (c), by striking the second sentence; and #####
(B)in subsection (d)— ######
(i)by striking “district” each place it appears; and ######
(ii)by inserting “for cooperatives (or any successor bank)” before “on account”. ####
(11)Section 3.11 of the Farm Credit Act of 1971 (12 U.S.C. 2132) is amended— #####
(A)in subsection (a), in the first sentence, by striking “subsections
(b)and
(c)of this section” and inserting “subsection (b)”; #####
(B)in subsection (b)— ######
(i)in the first sentence, by striking “district”; and ######
(ii)in the second sentence, by striking “Except as provided in subsection
(c)below, all” and inserting “All”; #####
(C)by striking subsection (c); and #####
(D)by redesignating subsections
(d)through
(f)as subsections
(c)through (e), respectively. ####
(12)Part B of title III of the Farm Credit Act of 1971 (12 U.S.C. 2141 et seq.) is amended in the part heading by striking “United and”. ####
(13)Section 3.20 of the Farm Credit Act of 1971 (12 U.S.C. 2141) is amended— #####
(A)in subsection (a), by striking “or the United Bank for Cooperatives, as the case may be”; and #####
(B)in subsection (b), by striking “the district banks for cooperatives and the Central Bank for Cooperatives” and inserting “the constituent banks described in section 413(b) of the Agricultural Credit Act of 1987 (12 U.S.C. 2121 note; Public Law 100-233)”. ####
(14)Section 3.21 of the Farm Credit Act of 1971 (12 U.S.C. 2142) is repealed. ####
(15)Section 3.28 of the Farm Credit Act of 1971 (12 U.S.C. 2149) is amended by striking “a district bank for cooperatives and the Central Bank for Cooperatives” and inserting “the constituent banks described in section 413(b) of the Agricultural Credit Act of 1987 (12 U.S.C. 2121 note; Public Law 100-233)”. ####
(16)Section 3.29 of the Farm Credit Act of 1971 (12 U.S.C. 2149a) is repealed. ####
(17)Section 4.0 of the Farm Credit Act of 1971 (12 U.S.C. 2151) is repealed. ####
(18)Section 4.8 of the Farm Credit Act of 1971 (12 U.S.C. 2159) is amended— #####
(A)by striking the section designation and heading and all that follows through “ Each bank ” in subsection
(a)and inserting the following: > > ## “SEC. SEC. 4.8 PURCHASE AND SALE OF OBLIGATIONS > > Each bank” > ; and #####
(B)by striking subsection (b). ####
(19)Section 4.9 of the Farm Credit Act of 1971 (12 U.S.C. 2160) is amended— #####
(A)in subsection (d)— ######
(i)by striking paragraph
(2)and inserting the following: > > #### “(3) Representation of board > > The Farm Credit System Insurance Corporation shall not have representation on the board of directors of the Corporation.” > ; ######
(ii)in the undesignated matter following paragraph (1)(D), by striking “ In selecting ” and inserting the following: > > #### “(2) Considerations > > In selecting” > ; and ######
(iii)in paragraph
(2)(as so designated), by inserting “of paragraph (1)” after “(A) and (B)”; #####
(B)by striking subsection (e); and #####
(C)by redesignating subsection
(f)as subsection (e). ####
(20)Section 4.9A(c) of the Farm Credit Act of 1971 (12 U.S.C. 2162(c)) is amended— #####
(A)by striking “institution, and—” in the matter preceding paragraph
(1)and all that follows through the period at the end of paragraph
(2)and inserting “institution.”; #####
(B)by striking “ If an institution ” and inserting the following: > > #### “(1) In general > > If an institution” > ; #####
(C)in paragraph
(1)(as so designated), by striking “the receiver of the institution” and inserting “the Farm Credit System Insurance Corporation, acting as receiver,”; and #####
(D)by adding at the end the following: > > #### “(2) Funding > > The Farm Credit System Insurance Corporation shall use such funds from the Farm Credit Insurance Fund as are sufficient to carry out this section.” > . ####
(21)Section 4.12A(a) of the Farm Credit Act of 1971 (12 U.S.C. 2184(a)) is amended by striking paragraph
(1)and inserting the following: > > #### “(1) In general > > A Farm Credit System bank or association shall provide to a stockholder of the bank or association a current list of stockholders of the bank or association not later than 7 calendar days after the date on which the bank or association receives a written request for the stockholder list from the stockholder.” > . ####
(22)Section 4.14A of the Farm Credit Act of 1971 (12 U.S.C. 2202a) is amended— #####
(A)in subsection (a)— ######
(i)in the matter preceding paragraph (1), by inserting “and section 4.36” before the colon at the end; and ######
(ii)in paragraph (5)(B)(ii)(I), by striking “4.14C,”; #####
(B)by striking subsection (h); #####
(C)by redesignating subsections
(i)through
(l)as subsections
(h)through (k), respectively; and #####
(D)in subsection
(k)(as so redesignated), by striking “production credit”. ####
(23)Section 4.14C of the Farm Credit Act of 1971 (12 U.S.C. 2202c) is repealed. ####
(24)Section 4.17 of the Farm Credit Act of 1971 (12 U.S.C. 2205) is amended in the third sentence by striking “Federal intermediate credit banks and”. ####
(25)Section 4.19(a) of the Farm Credit Act of 1971 (12 U.S.C. 2207(a)) is amended— #####
(A)in the first sentence— ######
(i)by striking “district”; and ######
(ii)by striking “Federal land bank association and production credit”; and #####
(B)in the second sentence, by striking “units” and inserting “institutions”. ####
(26)Section 4.38 of the Farm Credit Act of 1971 (12 U.S.C. 2219c) is amended by striking “The Assistance Board established under section 6.0 and all” and inserting “All”. ####
(27)Section 4.39 of the Farm Credit Act of 1971 (12 U.S.C. 2219d) is amended by striking “8.0(7))” and inserting “8.0)”. ####
(28)Section 5.16 of the Farm Credit Act of 1971 (12 U.S.C. 2251) is amended in the undesignated matter following paragraph
(5)of subsection
(b)(as designated by section 5405)— #####
(A)in the fifth sentence, by striking “ In actions undertaken by the banks pursuant to the foregoing provisions of this section ” and inserting the following: > > #### “(5) Agent for banks > > In actions undertaken by the banks pursuant to this section” > ; #####
(B)in the fourth sentence, by striking “ The plans ” and inserting the following: > > #### “(4) Approval of board > > The plans” > ; #####
(C)in the third sentence, by striking “ The powers ” and inserting the following: > > #### “(3) Powers of banks > > The powers” > ; #####
(D)in the second sentence, by striking “ Such advances ” and inserting the following: > > #### “(2) Advances > > The advances of funds described in paragraph (1)” > ; and #####
(E)in the first sentence, by striking “ The Board ” and inserting the following: > > ### “(c) Financing > > > #### “(1) In general > > The Board” > . ####
(29)Section 5.17(a)(2) of the Farm Credit Act of 1971 (12 U.S.C. 2252(a)(2)) is amended by striking the second and third sentences. ####
(30)Section 5.18 of the Farm Credit Act of 1971 (12 U.S.C. 2253) is repealed. ####
(31)Section 5.19 of the Farm Credit Act of 1971 (12 U.S.C. 2254) is amended— #####
(A)in subsection (a)— ######
(i)in the first sentence, by striking “Except for Federal land bank associations, each” and inserting “Each”; and ######
(ii)by striking the second sentence; and #####
(B)in subsection (b)— ######
(i)by striking “(b)(1) Each” and inserting “(b) Each”; ######
(ii)in the matter preceding paragraph
(2)(as so designated)— ######
(I)in the second sentence, by striking “, except with respect to any actions taken by any banks of the System under section 4.8(b),”; and ######
(II)by striking the third sentence; and ######
(iii)by striking paragraphs
(2)and (3). ####
(32)Section 5.31 of the Farm Credit Act of 1971 (12 U.S.C. 2267) is amended in the second sentence by striking “4.14A(i)” and inserting “4.14A(h)”. ####
(33)Section 5.32(h) of the Farm Credit Act of 1971 (12 U.S.C. 2268(h)) is amended by striking “4.14A(i)” and inserting “4.14A(h)”. ####
(34)Section 5.35 of the Farm Credit Act of 1971 (12 U.S.C. 2271) is amended in paragraph
(5)(as redesignated by section 5408(2))— #####
(A)in subparagraph (A), by adding “and” at the end; #####
(B)by striking subparagraph (B); #####
(C)by redesignating subparagraph
(C)as subparagraph (B); and #####
(D)in subparagraph
(B)(as so redesignated)— ######
(i)by striking “after December 31, 1992,”; and ######
(ii)by striking “by the Farm Credit System Assistance Board under section 6.6 or”. ####
(35)Section 5.38 of the Farm Credit Act of 1971 (12 U.S.C. 2274) is amended by striking “a farm” and all that follows through “land bank” and inserting “a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any”. ####
(36)Section 5.44 of the Farm Credit Act of 1971 (12 U.S.C. 2275) is repealed. ####
(37)Section 5.58(2) of the Farm Credit Act of 1971 (12 U.S.C. 2277a-7(2)) is amended by striking the second sentence. ####
(38)Section 5.60 of the Farm Credit Act of 1971 (12 U.S.C. 2277a-9) is amended— #####
(A)in subsection (b), by striking the subsection designation and heading and all that follows through “ The Corporation ” in paragraph
(2)and inserting the following: > > ### “(b) Amounts in Fund > > The Corporation” > ; and #####
(B)in subsection (c)(2), by striking “Insurance Fund to—” in the matter preceding subparagraph
(A)and all that follows through “ensure” in subparagraph
(B)and inserting “Insurance Fund to ensure”. ####
(39)Title VI of the Farm Credit Act of 1971 (12 U.S.C. 2278a et seq.) is repealed. ####
(40)Section 7.9 of the Farm Credit Act of 1971 (12 U.S.C. 2279c-2) is amended by striking subsection (c). ####
(41)Section 7.10(a) of the Farm Credit Act of 1971 (12 U.S.C. 2279d(a)) is amended by striking paragraph
(4)and inserting the following: > > #### “(4) > > the institution pays to the Farm Credit Insurance Fund the amount by which the total capital of the institution exceeds 6 percent of the assets;” > . ####
(42)Section 8.0 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa) is amended— #####
(A)in paragraph (2), by striking “means—” in the matter preceding subparagraph
(A)and all that follows through the period at the end of the undesignated matter following subparagraph
(B)and inserting “means the board of directors established under section 8.2.”; #####
(B)by striking paragraphs
(6)and (8); #####
(C)by redesignating paragraphs (7), (9), and
(10)as paragraphs (6), (7), and (8), respectively; and #####
(D)in subparagraph (B)(i) of paragraph
(7)(as so redesignated), by striking “(b) through (d)” and inserting “(b) and (c)”. ####
(43)Section 8.2 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa-2) is amended— #####
(A)by striking subsection (a); #####
(B)in subsection (b), by striking the subsection designation and heading and all that follows through the period at the end of paragraph
(1)and inserting the following: > > ### “(a) In General > > > #### “(1) Establishment > > The Corporation shall be under the management of the board of directors.” > ; #####
(C)in subsection
(a)(as so designated)— ######
(i)by striking “permanent board” each place it appears and inserting “Board”; ######
(ii)by striking paragraph (3); ######
(iii)by redesignating paragraphs
(4)through
(10)as paragraphs
(3)through (9), respectively; and ######
(iv)in paragraph (3)(A) (as so redesignated), by striking “(6)” and inserting “(5)”; and #####
(D)by redesignating subsection
(c)as subsection (b). ####
(44)Section 8.4(a)(1) of the Farm Credit Act of 1971 (12 U.S.C. 2279aa-4(a)(1)) is amended— #####
(A)in the sixth sentence— ######
(i)by striking “ Class B ” and inserting the following: > > ### “(iii) Class b stock > > Class B” > ; and ######
(ii)by striking “8.2(b)(2)(B)” and inserting “8.2(a)(2)(B)”; #####
(B)in the fifth sentence— ######
(i)by striking “ Class A ” and inserting the following: > > ### “(ii) Class a stock > > Class A” > ; and ######
(ii)by striking “8.2(b)(2)(A)” and inserting “8.2(a)(2)(A)”; #####
(C)in the fourth sentence, by striking “ The stock ” and inserting the following: > > ##### “(D) Classes of stock > > > ###### “(i) In general > > The stock” > ; #####
(D)by striking the third sentence and inserting the following: > > ##### “(C) Offers > > > ###### “(i) In general > > The Board shall offer the voting common stock to banks, other financial institutions, insurance companies, and System institutions under such terms and conditions as the Board may adopt. > > > ###### “(ii) Requirements > > The voting common stock shall be fairly and broadly offered to ensure that— > > > ###### “(I) > > no institution or institutions acquire a disproportionate share of the total quantity of the voting common stock outstanding of a class of stock; and > > > ###### “(II) > > capital contributions and issuances of voting common stock for the contributions are fairly distributed between entities eligible to hold class A stock and class B stock.” > ; #####
(E)in the second sentence, by striking “ Each share ” and inserting the following: > > ##### “(B) Number of votes > > Each share” > ; and #####
(F)in the first sentence, by striking “ The Corporation ” and inserting the following: > > ##### “(A) In general > > The Corporation” > . ####
(45)Section 8.6 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa-6) is amended— #####
(A)by striking subsection (d); #####
(B)by redesignating subsection
(e)as subsection (d); and #####
(C)in paragraph
(2)of subsection
(d)(as so redesignated), by striking “8.0(9))” and inserting “8.0)”. ####
(46)Section 8.9 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa-9) is amended by striking “4.14C,” each place it appears. ####
(47)Section 8.11(e) of the Farm Credit Act of 1971 (12 U.S.C. 2279aa-11(e)) is amended by striking “8.0(7))” and inserting “8.0)”. ####
(48)Section 8.32(a) of the Farm Credit Act of 1971 (12 U.S.C. 2279bb-1(a)) is amended— #####
(A)in the first sentence of the matter preceding paragraph (1), by striking “Not sooner than the expiration of the 3-year period beginning on the date of enactment of the Farm Credit System Reform Act of 1996, the” and inserting “The”; and #####
(B)in paragraph (1)(B), by striking “8.0(9)(C)” and inserting “8.0(7)(C)”. ####
(49)Section 8.33(b)(2)(A) of the Farm Credit Act of 1971 (12 U.S.C. 2279bb-2(b)(2)(A)) is amended by striking “8.6(e)” and inserting “8.6(d)”. ####
(50)Section 8.35 of the Farm Credit Act of 1971 (12 U.S.C. 2279bb-4) is amended by striking subsection (e). ####
(51)Section 8.38 of the Farm Credit Act of 1971 (12 U.S.C. 2279bb-7) is repealed. ####
(52)Section 4 of the Agricultural Marketing Act (12 U.S.C. 1141b) is repealed. ####
(53)Section 5 of the Agricultural Marketing Act (12 U.S.C. 1141c) is repealed. ####
(54)Section 6 of the Agricultural Marketing Act (12 U.S.C. 1141d) is repealed. ####
(55)Section 7 of the Agricultural Marketing Act (12 U.S.C. 1141e) is repealed. ####
(56)Section 8 of the Agricultural Marketing Act (12 U.S.C. 1141f) is repealed. ####
(57)Section 14 of the Agricultural Marketing Act (12 U.S.C. 1141i) is repealed. ####
(58)The Act of June 22, 1939 (53 Stat. 853, chapter 239; 12 U.S.C. 1141d-1), is repealed. ####
(59)Section 201(e) of the Emergency Relief and Construction Act of 1932 (12 U.S.C. 1148) is repealed. ####
(60)Section 2 of the Act of July 14, 1953 (67 Stat. 150, chapter 192; 12 U.S.C. 1148a-4), is repealed. ####
(61)Section 32 of the Farm Credit Act of 1937 (12 U.S.C. 1148b) is repealed. ####
(62)Section 33 of the Farm Credit Act of 1937 (12 U.S.C. 1148c) is repealed. ####
(63)Section 34 of the Farm Credit Act of 1937 (12 U.S.C. 1148d) is repealed. ####
(64)The Joint Resolution of March 3, 1932 (47 Stat. 60, chapter 70; 12 U.S.C. 1401 et seq.), is repealed.
Connectionstraces to 52
Traces to 52 documents
U.S. Code
15 references not yet in our index
  • Pub. L. 100-233
  • 12 USC 2278a
  • 12 USC 1141b
  • 12 USC 1141c
  • 12 USC 1141d
  • 12 USC 1141e
  • 12 USC 1141f
  • 53 Stat. 853
  • 12 USC 1141d-1
  • 67 Stat. 150
  • 12 USC 1148a-4
  • 12 USC 1148b
  • 12 USC 1148c
  • 12 USC 1148d
  • 12 USC 1401
Citation graph
cites case law
Sec. 5411
REPEAL OF OBSOLETE PROVISIONS; TECHNICAL CORRECTIONS
U.S.C.§ 2001
U.S.C.§ 2002
U.S.C.§ 2075
U.S.C.§ 2121
U.S.C.§ 2123
U.S.C.§ 2126
U.S.C.§ 2128
U.S.C.§ 2129
U.S.C.§ 2130
Pub. L.Pub. L. 100-233
Cite12 USC 2278a
Cite12 USC 1141b
Cites 67 · showing 12Cited by 0 across 0 sources
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.