Collapse to view only § 619.9110 - Consolidation.
- § 619.9000 - The Act.
- § 619.9010 - Additional security.
- § 619.9015 - Agricultural credit associations.
- § 619.9020 - Agricultural credit banks.
- § 619.9025 - Agricultural land.
- § 619.9050 - Associations.
- § 619.9060 - Bank for cooperatives.
- § 619.9110 - Consolidation.
- § 619.9130 - Differential interest rates.
- § 619.9135 - Direct lender.
- § 619.9140 - Farm Credit bank(s).
- § 619.9145 - Farm Credit Bank.
- § 619.9146 - Farm Credit institutions.
- § 619.9155 - Federal land credit association.
- § 619.9170 - Fixed interest rate.
- § 619.9180 - Fixed interest spread.
- § 619.9185 - Funding Corporation.
- § 619.9195 - [Reserved]
- § 619.9200 - Loss-sharing agreements.
- § 619.9210 - Merger.
- § 619.9230 - Open-end mortgage loan plans.
- § 619.9235 - Outside director.
- § 619.9240 - Participation agreement.
- § 619.9250 - Participation certificates.
- § 619.9260 - Primary security.
- § 619.9270 - Qualified Public Accountant or External Auditor.
- § 619.9310 - Senior officer.
- § 619.9320 - Shareholder or stockholder.
- § 619.9330 - Speculative purposes.
- § 619.9335 - Supplemental retirement plan or supplemental executive retirement plan.
- § 619.9338 - Unincorporated business entities.
- § 619.9340 - Variable interest rate.
§ 619.9000 - The Act.
The Farm Credit Act of 1971; Pub. L. 92-181 and amendments.
§ 619.9010 - Additional security.
Supplementary collateral to the primary security taken in connection with the loan.
§ 619.9015 - Agricultural credit associations.
Agricultural credit associations are associations created by the merger of one or more Federal land bank associations or Federal land credit associations and one or more production credit associations and which have received a transfer of authority to make and participate in long-term real estate mortgage loans pursuant to section 7.6 of the Act.
§ 619.9020 - Agricultural credit banks.
Agricultural credit banks are those banks created by the merger of a Farm Credit Bank and a bank for cooperatives pursuant to section 7.0 of the Act.
§ 619.9025 - Agricultural land.
Land improved or unimproved which is devoted to or available for the production of crops and other products such as but not limited to fruits and timber or for the raising of livestock.
§ 619.9050 - Associations.
The term associations includes (individually or collectively) Federal land bank associations, Federal land credit associations, production credit associations, and agricultural credit associations.
§ 619.9060 - Bank for cooperatives.
A bank for cooperatives is a bank that is operating under section 3.0 of the Act.
§ 619.9110 - Consolidation.
Creation of one new organizational entity from two or more existing entities or parts thereof.
§ 619.9130 - Differential interest rates.
An interest rate program under which different rates of interest may be made applicable to individual or classes of loans on the basis of type, purpose, amount, quality of loan, or a combination of these factors.
§ 619.9135 - Direct lender.
The term direct lender refers to Farm Credit banks and associations (production credit associations, agricultural credit associations, and Federal land credit associations) authorized to lend to eligible borrowers identified in § 613.3000.
§ 619.9140 - Farm Credit bank(s).
Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks, agricultural credit banks, and banks for cooperatives, but excludes bridge System banks chartered by the Farm Credit Administration Board pursuant to section 5.61C(h)(2) of the Act.
§ 619.9145 - Farm Credit Bank.
The term Farm Credit Bank refers to a bank resulting from the mandatory merger of the Federal land bank and the Federal intermediate credit bank in each Farm Credit district pursuant to section 410 of the Agricultural Credit Act of 1987, Pub. L. 100-233, or any bank resulting from a merger of two or more Farm Credit Banks.
§ 619.9146 - Farm Credit institutions.
Except as otherwise defined, the term Farm Credit institutions refers to all institutions identified in section 1.2 of the Act and are chartered and regulated by the Farm Credit Administration but excludes bridge System banks chartered by the Farm Credit Administration Board pursuant to section 5.61C(h)(2) of the Act.
§ 619.9155 - Federal land credit association.
The term Federal land credit association refers to a Federal land bank association that has received a transfer of direct long-term real estate lending authority pursuant to section 7.6 of the Act.
§ 619.9170 - Fixed interest rate.
The rate of interest specified in the note or loan document which will prevail as the maximum rate chargeable to the borrower during the period of the loan.
§ 619.9180 - Fixed interest spread.
A percentage to be added to the cost of money to the bank or association as the means of establishing a lending rate.
§ 619.9185 - Funding Corporation.
The term Funding Corporation refers to the Federal Farm Credit Banks Funding Corporation established pursuant to section 4.9 of the Act.
§ 619.9195 - [Reserved]
§ 619.9200 - Loss-sharing agreements.
A contractual arrangement under which the parties agree to share losses associated with loans or otherwise, as may be provided for in the agreement.
§ 619.9210 - Merger.
Combining of one or more organizational entities into another similar entity.
§ 619.9230 - Open-end mortgage loan plans.
A mortgage loan which permits the borrower to obtain additional sums during the term of the loan.
§ 619.9235 - Outside director.
A member of a board of directors selected or appointed by the board, who is not a director, officer, employee, agent, or stockholder of any Farm Credit System institution.
§ 619.9240 - Participation agreement.
A contract under which a lender agrees to sell a portion of a loan to one or more purchasers under specific terms set forth in the agreement.
§ 619.9250 - Participation certificates.
Evidence of investment in a bank or association to which all the rights and obligations of stock attach with the exception of the right to vote in the affairs of the institution.
§ 619.9260 - Primary security.
The basic collateral securing the loan.
§ 619.9270 - Qualified Public Accountant or External Auditor.
A qualified public accountant or external auditor is a person who:
(a) Holds a valid and unrevoked certificate, issued to such person by a legally constituted State authority, identifying such person as a certified public accountant;
(b) Is licensed to practice as a public accountant by an appropriate regulatory authority of a State or other political subdivision of the United States;
(c) Is in good standing as a certified and licensed public accountant under the laws of the State or other political subdivision of the United States in which is located the home office or corporate office of the institution that is to be audited;
(d) Is not suspended or otherwise barred from practice as an accountant or public accountant before the Securities and Exchange Commission (SEC) or any other appropriate Federal or State regulatory authority; and
(e) Is independent of the institution that is to be audited. For the purposes of this definition, the term “independent” has the same meaning as under the rules and interpretations of the authoritative body governing overall audit performance. At a minimum, an accountant hired to audit a System institution is not independent if he or she functions in the role of management, audits his or her own work, or serves in an advocacy role for the institution.
§ 619.9310 - Senior officer.
The Chief Executive Officer, the Chief Operations Officer, the Chief Financial Officer, the Chief Credit Officer, and the General Counsel, or persons in similar positions; and any other person responsible for a major policy-making function.
§ 619.9320 - Shareholder or stockholder.
A holder of any equity interest in a Farm Credit institution.
§ 619.9330 - Speculative purposes.
To buy or sell with the expectation of profiting by fluctuations in price.
§ 619.9335 - Supplemental retirement plan or supplemental executive retirement plan.
A nonqualified retirement plan that provides benefits in addition to those covered by other retirement plans for all employees and funded in whole or part by a Farm Credit institution.
§ 619.9338 - Unincorporated business entities.
An Unincorporated Business Entity means a Limited Partnership (LP), Limited Liability Partnership (LLP), Limited Liability Limited Partnership (LLLP), Limited Liability Company (LLC), Business or other Trust Entity (TE), or other business entity established and maintained under State law that is not incorporated under any law or chartered under Federal law.
§ 619.9340 - Variable interest rate.
An interest rate on the outstanding loan balances, which may be changed from time to time during the period of the loan, if provision is made in the note or loan document.