§ 1412.1. Scope.
77 words·~1 min read·
/us/cfr/t12/s§ 1412.1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This part limits and/or prohibits, in certain circumstances, the ability of Farm Credit System (System) institutions, their service corporations, subsidiaries and affiliates from making golden parachute and indemnification payments to institution-related parties (IRPs).
(b)This part applies to System institutions in a troubled condition that seek to make golden parachute payments to their IRPs.
(c)The limitations on indemnification payments apply to all System institutions, their service corporations, subsidiaries and affiliates regardless of their financial health.