Chapter 63. To amend the Federal Farm Loan Act, as amended
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/statutes-at-large/vol-42/chapter-63-781550·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 63.— An Act To amend the Federal Farm Loan Act, as amended. August 13, 1921. [[S. 1811](/us/bill/67/s/1811).] [[Public, No. 50](/us/pl/67/50).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the first paragraph ofFederal Farm Loan Act. Vol. 41, p. 1362, amended. section 20 of the Federal Farm Loan Act, as amended, be, and hereby is, amended to read as follows: " “Sec. 20. That bonds provided for in this Act shall be issued inFarm Loan bonds.
Denominations, terms, etc. denominations of $40, $100, $500, $1,000, and such larger denominations as the Federal Farm Loan Board may authorize; they shall run for specified minimum and maximum periods, subject to payment and retirement, at the option of the land bank, at any time after the minimum period specified in the bonds, which shall not be longer than ten years from the date of their issue. They shall have interest coupons attached, payable semiannually, and shall be issued in series of not less than $50,000, the amount and terms to be fixed by the Federal Farm Loan Board.
They shall bear a rate of interestRate of interest modified. not to exceed 5½ per centum per annum, but no bonds issued or sold after June 30, 1923, shall bear a rate of interest to exceed 5 per centum per annum.” " Approved, August 13, 1921.