§ 2211. Establishment
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/usc/title-12/section-2211A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any bank of the Farm Credit System, or two or more of such banks acting together, may organize a corporation or corporations for the purpose of performing functions and services for or on behalf of the organizing bank or banks that the bank or banks may perform pursuant to this chapter: Provided, That a corporation so organized shall have no authority either to extend credit or provide insurance services for borrowers from Farm Credit System institutions, nor shall it have any greater authority with respect to functions and services than the organizing bank or banks possess under this chapter.
The organizing bank or banks shall apply for a Federal charter for the corporation by forwarding to the Farm Credit Administration a statement of the need for the corporation and proposed articles specifying in general terms the objectives for which the corporation is formed, the powers to be exercised by it in carrying out the functions and services, and the territory it is to serve. The Farm Credit Administration for good cause may deny the charter applied for. Upon the approval of articles by the Farm Credit Administration and the issuance of a charter, the corporation shall become as of such date a federally chartered body corporate and an instrumentality of the United States.
(Pub. L. 92–181, title IV, § 4.25, as added Pub. L. 96–592, title IV, § 404, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 99–205, title II, § 205(f)(8), Dec. 23, 1985, 99 Stat. 1706.)
Connections11 cite this · traces to 1
Cited by 11 sections · top 8
U.S. Code
statutes-at-large
- Public Law 99–205To amend the Farm Credit Act of 1971, to restructure and reform the Farm Credit System, and for other purposes
- Public Law 96–592To amend the Farm Credit Act of 1971 to permit Farm Credit System institutions to improve their services to borrowers, and for other purposes
- Public Law 99–508To amend title 18, United States Code, with respect to the interception of certain communications, other forms of surveillance, and for other purposes
- Public Law 100–233To provide credit assistance to farmers, to strengthen the Farm Credit System, to facilitate the establishment of secondary markets for agricultural loans, and for other purposes
statute-compilations
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U.S. Code
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- Pub. L. 92–181, title IV, § 4
- Pub. L. 96–592, title IV, § 404
- 94 Stat. 3447
- Pub. L. 99–205, title II, § 205(f)(8)
- 99 Stat. 1706
- Pub. L. 99–205
- section 401 of Pub. L. 99–205
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cites case law
§ 2211
Establishment
Stat.×7
U.S.C.×2
Fed. Reg.×1
Stat. Comp.×1
Pub. L.Pub. L. 92–181, title IV, § 4
Pub. L.Pub. L. 96–592, title IV, § 404
Stat.94 Stat. 3447
Pub. L.Pub. L. 99–205, title II, § 205(f)(8)
Stat.99 Stat. 1706
Cites 8 · showing 6Cited by 11 across 4 sources