Chapter 700. To amend the second paragraph of section 4 of the Federal Farm Loan Act, as amended
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Chap. 700: To amend the second paragraph of section 4 of the Federal Farm Loan Act, as amended. 1929-03-04 700 Chapter 45 Stat. 1558 70 2 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-24 public Chapter 700.— An Act To amend the second paragraph of section 4 of the Federal Farm Loan Act, as amended. March 4, 1929.[[H.
R. 13936](/us/bill/70/hr/13936).][[Public, No. 1028](/us/pl/70/1028).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * Federal land banks.Vol. 42, p. 1474, amended.[U. S. Code, p. 300](/us/usc/p300). That the second paragraph of section 4 of the Federal Farm Loan Act (U. S. C., title 12, sec. 672), as amended, is amended to read as follows: " Establishment of, in each land bank district.“The Federal Farm Loan Board shall establish in each Federal land bank district a Federal land bank, with its principal office located in such city within the district as said board shall designate.
Each Federal land bank shall include in its title the name of the Branches authorized.city in which it is located. Subject to the approval of the Federal Farm Loan Board, any Federal land bank may establish branches Extension of branches to Porto Rico and Alaska.within the land bank district. Subject to the approval of the Federal Farm Loan Board and under such conditions as it may prescribe, the provisions of this Act are extended to the island of Porto Rico and the Territory of Alaska; and the Federal Farm Loan Board shall designate a Federal land bank which is hereby authorized to establish a branch bank in Porto Rico and a Federal land bank which is hereby authorized to establish a branch bank in the Territory of Loans allowed by such branch banks not exceeding $25,000.[U.
S. Code, p. 302](/us/usc/p302).Alaska. Loans made by each such branch bank shall not exceed the sum of $25,000 to any one borrower and shall be subject to the restrictions and provisions of this Act (U. S. C., title 12, ch. 7), except that each such branch bank may loan direct to borrowers, Interest rate.and, subject to such regulations as the Federal Farm Loan Board may prescribe, the rate charged borrowers may be 1½ per centum in excess of the rate borne by the last preceding issue of farm-loan *Proviso*.Term limit of loans in Porto Rico, or Alaska.bonds of the Federal land bank with which such branch bank is connected: *Provided*, That no loan shall be made in Porto Rico or Alaska by such branch bank for a longer term than twenty years.
” " Approved, March 4, 1929.
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Chapter 700
To amend the second paragraph of section 4 of the Federal Farm Loan Act, as amended
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