§ 615.5175. Investments in Farm Credit System institution preferred stock.
71 words·~1 min read·
/us/cfr/t12/s§ 615.5175·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as provided for in § 615.5171, Farm Credit banks, associations and service corporations may only purchase preferred stock issued by another Farm Credit System institution, including the Federal Agricultural Mortgage Corporation, with the written prior approval of the Farm Credit Administration. The request for approval should explain the terms and risk characteristics of the investment and the purpose and objectives for making the investment. [70 FR 53908, Sept. 13, 2005]