Chapter 616. To amend section 202 of Title II of the Federal Farm Loan Act by providing for loans by Federal intermediate credit banks to financing institutions on bills payable and by eliminating the requirement that loans, advances, or discounts shall have a minimum maturity of six months
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CHAP. 616.— An Act To amend section 202 of Title II of the Federal Farm Loan Act by providing for loans by Federal intermediate credit banks to financing institutions on bills payable and by eliminating the requirement that loans, advances, or discounts shall have a minimum maturity of six months. June 26, 1930.[[S. 4287](/us/bill/71/s/4287).][[Public, No. 439](/us/pl/71/439).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Federal Farm Loan Act, amendment.Vol. 43, p. 1264, amended.[U. S. C., p. 316, amended; Supp. IV, p. 112](/us/usc/p316).New matter added. That section 202
(a)of Title II of the Federal Farm Loan Act, as amended (U. S. C., title 12, ch. 8, sec. 1031), be amended by substituting a semicolon for the period at the end of paragraph
(1)thereof and adding thereafter the following new matter: “and to make loans or advances direct to any such organization, secured by such obligations.” Sec. 2. Vol. 42, p. 1456, amended.[U. S. C., p. 316, amended](/us/usc/p316). That section 202
(c)of Title II of the Federal Farm Loan Act, as amended (U. S. C., title 12, ch. 8, sec. 1033), be amended by striking out the words “less than six months nor,” so that said section will read as follows: " Minimum maturity provision on loans, etc., eliminated.“Loans, advances, or discounts made under this section shall have a maturity at the time they are made or discounted by the Federal intermediate credit bank of not more than three years. Any Federal intermediate credit bank may in its discretion sell loans or discounts made under this section, with or without its indorsement.” " Approved, June 26, 1930.