§ 2219b. Application of uninsured accounts

151 words·~1 min read·/usc/title-12/section-2219b

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(a)In general Money of a borrower held by a Farm Credit System institution in an uninsured voluntary or involuntary account as authorized under regulations issued by the Farm Credit Administration (as in effect immediately before January 6, 1988), including all such other accounts known as “advanced payment accounts” or “future prepayment accounts” shall, in the event the institution is placed in liquidation, be immediately applied as payment against the indebtedness of any outstanding loans of such borrower.

(b)Regulations The Farm Credit Administration shall promulgate regulations—

(1)that define the term “uninsured voluntary or involuntary account”; and

(2)to otherwise effectively carry out this section.

(Pub. L. 92–181, title IV, § 4.37, as added Pub. L. 100–233, title I, § 110, Jan. 6, 1988, 101 Stat. 1585.)

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Cited by 2 sections

statute-compilations

Sec. 4.37
APPLICATION OF UNINSURED ACCOUNTS

statutes-at-large

Public Law 100–233
To 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

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U.S. Code

Affirmative action
§ 2219c

4 references not yet in our index

Pub. L. 92–181, title IV, § 4
Pub. L. 100–233, title I, § 110
101 Stat. 1585
Pub. L. 92–181

Citation graph

cites case law

§ 2219b

Application of uninsured accounts

Stat. Comp.×1

Stat.×1

U.S.C.§ 2219c

Pub. L.Pub. L. 92–181, title IV, § 4

Pub. L.Pub. L. 100–233, title I, § 110

Stat.101 Stat. 1585

Pub. L.Pub. L. 92–181

Cites 5Cited by 2 across 2 sources