Title 12, Chapter 23 — Farm Credit System

Congressional declaration of policy and objectives

Farm Credit System

Establishment, charters, titles, branches

Board of directors

General corporate powers

Farm Credit Bank capitalization

Lending authority

Interest rates and other charges

Eligibility

Security; terms

Purposes for extensions of credit

Related services

Loans through associations or agents

Liens on stock

Taxation

Organization and charters

Board of directors

General corporate powers

Production credit association capitalization

Short- and intermediate-term loans; participation; other financial assistance; terms; conditions; interest; security

Other services

Liens on stock

Taxation

Organizations; articles; charters; powers of the Farm Credit Administration

Board of directors

General corporate powers

Federal land bank association capitalization

Repealed. Pub. L. 100–399, title IV, § 401(v), Aug. 17, 1988, 102 Stat. 999

Agreements for sharing gains or losses

Liens on stock

Taxation

Establishment; titles; branches

Corporate existence; general corporate powers

Board of directors

Stock of banks for cooperatives

Dividends

Retirement of stock

Guaranty fund subscriptions in lieu of stock

Loans, commitments, and technical and financial assistance

Eligibility

Ownership of stock by borrowers

Loans

Earnings and reserves; application of savings

Distribution of assets on liquidation or dissolution

Taxation

Charter, powers, and operation

Repealed. Pub. L. 115–334, title V, § 5411(14), Dec. 20, 2018, 132 Stat. 4680

Credit delivery office

Consolidation of functions

Exchange of ownership interests

Capitalization

Patronage pools

Transactions to accomplish merger

Lending limits

Repealed. Pub. L. 115–334, title V, § 5411(16), Dec. 20, 2018, 132 Stat. 4680

Repealed. Pub. L. 115–334, title V, § 5411(17), Dec. 20, 2018, 132 Stat. 4680

Repealed. Pub. L. 100–233, title II, § 207(a)(1), Jan. 6, 1988, 101 Stat. 1607

Power to borrow; issuance of notes, bonds, debentures, and other obligations

Capital adequacy of banks and institutions

Capitalization of System institutions

Liability of banks; United States not liable

Repealed. Pub. L. 100–233, title II, § 204(b), Jan. 6, 1988, 101 Stat. 1607

Bonds as investments

Purchase and sale by Federal Reserve System

Purchase and sale of obligations

Federal Farm Credit Banks Funding Corporation

Repealed. Pub. L. 100–399, title I, § 101(a), Aug. 17, 1988, 102 Stat. 989

Protection of borrower stock

Repealed. Pub. L. 100–233, title IV, § 418(a)(2), (3), formerly § 415(a)(2), (3), Jan. 6, 1988, 101 Stat. 1653; renumbered § 418(a)(2), (3), Pub. L. 100–399, title IV, § 409(a), Aug. 17, 1988, 102 Stat. 1003

Dissolution; voluntary or involuntary liquidation; mergers; receiverships or conservators

Communications with stockholders

Disclosure

Access to documents and information

Notice of action on application

Reconsideration of actions

Restructuring distressed loans

Effect of restructuring on borrower stock

Repealed. Pub. L. 115–334, title V, § 5411(23), Dec. 20, 2018, 132 Stat. 4682

Protection of borrowers who meet all loan obligations

Waiver of mediation rights by borrowers

Nomination of association directors; representative selection of nominees

Repealed. Pub. L. 102–552, title V, § 508, Oct. 28, 1992, 106 Stat. 4132

Interest rates

Participation loans

Authority of Farm Credit Banks and direct lender associations to participate in loans to similar entities for risk management purposes

Young, beginning, and small farmers and ranchers

Prohibition against use of signed ballots

Repealed. Pub. L. 115–334, title V, § 5403, Dec. 20, 2018, 132 Stat. 4675

Establishment

Powers of Farm Credit Administration

Regulation and examination

State laws

“Bank” defined

Repealed. Pub. L. 100–233, title II, § 207(a)(3), Jan. 6, 1988, 101 Stat. 1607

Lines of insurance

Limitation on separate sale

Right of first refusal

Application of uninsured accounts

Affirmative action

Encouragement of conservation practices

Liability for making criminal referrals

Transferred

Repealed. Pub. L. 100–399, title IV, § 409(d), Aug. 17, 1988, 102 Stat. 1003

Farm Credit Administration

Farm Credit Administration Board

Powers of Board

Chairman; responsibilities; governing standards

Organization of Farm Credit Administration

Advisory committees

Repealed. Pub. L. 99–205, title II, § 201(2), Dec. 23, 1985, 99 Stat. 1690

Seal of the Farm Credit Administration

Administrative expenses

Farm Credit Administration operating expenses fund

Quarters and facilities for the Farm Credit Administration

Powers and duties

Repealed. Pub. L. 115–334, title V, § 5411(30), Dec. 20, 2018, 132 Stat. 4682

Examinations

Conditions of other banks and lending institutions

Consent to the availability of reports and to examinations

Reports on conditions of institutions receiving loans or deposits

Uniform financial reporting instructions

Jurisdiction

State legislation

Transferred

Cease and desist proceedings

Temporary cease and desist orders

Enforcement of temporary cease and desist orders

Suspension or removal of director or officer

Suspension or removal of director or officer charged with felony

Removal and prohibition authority; industry-wide prohibition

Hearings and judicial review

Jurisdiction and enforcement

Jurisdiction over institution-affiliated parties

Penalty

Further penalties

Replacement of suspended or removed directors

Definitions

Notice of service

Ancillary provisions; subpena power; etc.

Power to remove directors and officers

Repealed. Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683

Transition rules relating to amendment of certain FCA approval authorities

Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions

Definitions

Establishment of Farm Credit System Insurance Corporation

Board of Directors

Commencement of insurance

Premiums

Certification of premiums

Overpayment and underpayment of premiums; remedies

General corporate powers

Conduct of corporate affairs; examination of System institutions

Insurance Fund

Powers of Corporation with respect to troubled insured System banks

Oversight actions by Corporation

Authority to regulate golden parachute and indemnification payments

Corporation as conservator or receiver; certain other powers

Investment of funds

Exemption from taxation

Omitted

Prohibitions

Repealed. Pub. L. 115–334, title V, § 5411(39), Dec. 20, 2018, 132 Stat. 4683

Power to merge

Board of directors

Powers of merged banks

Capitalization

Repealed. Pub. L. 100–399, title IV, § 408(d), Aug. 17, 1988, 102 Stat. 1001

Transferred

Transfer of lending authority

Equalization of loan-making powers of certain district associations

Merger of associations

Reconsideration

Termination of System institution status

Approval of disclosure information and issuance of charters

Merger of similar banks

Merger of similar associations

Transactions to accomplish mergers exempt from certain State taxes

Definitions

Federal Agricultural Mortgage Corporation

Board of directors

Powers and duties of Corporation and Board

Stock issuance

Certification of agricultural mortgage marketing facilities

Guarantee of qualified loans

Repealed. Pub. L. 104–105, title I, § 108(b), Feb. 10, 1996, 110 Stat. 164

Standards for qualified loans

Exemption from restructuring and borrowers rights provisions for pooled loans

Funding for guarantee; reserves of Corporation

Supervision, examination, and report of condition

Securities in credit enhanced pools

Authority to issue obligations to cover guarantee losses of Corporation

Federal jurisdiction

Definitions

Risk-based capital levels

Minimum capital level

Critical capital level

Enforcement levels

Mandatory actions applicable to level II

Supervisory actions applicable to level III

Repealed. Pub. L. 115–334, title V, § 5411(51), Dec. 20, 2018, 132 Stat. 4685

Conservatorship; liquidation; receivership