§ 2279aa–1. Federal Agricultural Mortgage Corporation
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/usc/title-12/section-2279aa-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is hereby established a corporation to be known as the Federal Agricultural Mortgage Corporation, which shall be a federally chartered instrumentality of the United States. The Corporation shall be an institution of the Farm Credit System. The Corporation shall not be liable for any debt or obligation of any other institution of the Farm Credit System. The Farm Credit System and System institutions (other than the Corporation) shall not be liable for any debt or obligation of the Corporation.
The Corporation shall— in consultation with originators, develop uniform underwriting, security appraisal, and repayment standards for qualified loans; determine the eligibility of agricultural mortgage marketing facilities to contract with the Corporation for the provision of guarantees for specific mortgage pools; provide guarantees for the timely repayment of principal and interest on securities representing interests in, or obligations backed by, pools of qualified loans; and purchase qualified loans and issue securities representing interests in, or obligations backed by, the qualified loans, guaranteed for the timely repayment of principal and interest.
( Pub. L. 92–181, title VIII, § 8 .1, as added Pub. L. 100–233, title VII, § 702 , Jan. 6, 1988 , 101 Stat. 1687 ; amended Pub. L. 104–105, title I, § 103 , Feb. 10, 1996 , 110 Stat. 163 .)
Connections12 cite this
Cited by 12 sections · top 10
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register
bill
- Sec. 70435Exclusion of interest on loans secured by rural or agricultural real property
- Sec. 111106Exclusion of interest on loans secured by rural or agricultural real property
- Sec. 70435Exclusion of interest on loans secured by rural or agricultural real property
- Sec. 111106Exclusion of interest on loans secured by rural or agricultural real property
- Sec. 111107Exclusion of interest on loans secured by rural or agricultural real property
5 references not yet in our index
- Pub. L. 92-181
- Pub. L. 100-233
- 101 Stat. 1687
- Pub. L. 104-105
- 110 Stat. 163
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§ 2279aa–1
Federal Agricultural Mortgage Corporation
Bills×5
Fed. Reg.×5
C.F.R.×1
Pub. L.×1
Pub. L.Pub. L. 92-181
Pub. L.Pub. L. 100-233
Stat.101 Stat. 1687
Pub. L.Pub. L. 104-105
Stat.110 Stat. 163
Cites 5Cited by 12 across 4 sources