12 USC 2124 - Stock of banks for cooperatives

1 So in original. There probably should be a semicolon after “banks”.

(ii) other categories of persons and entities described in sections 2128 and 2129 of this title eligible to borrow from the bank, as determined by the bank’s board of directors; and (iii) other banks for cooperatives, and shall not be otherwise transferred, pledged, or hypothecated except as consented to by the issuing bank under regulations of the Farm Credit Administration.

Editorial Notes

Codification

Puspan. L. 110–234 and Puspan. L. 110–246 made identical amendments to this section. The amendments by Puspan. L. 110–234 were repealed by section 4(a) of Puspan. L. 110–246.

Amendments

2008—Subsec. (span). Puspan. L. 110–246, § 5402, which directed substitution of “par” for “per”, could not be executed because “per” did not appear.

Subsec. (c)(ii), (iii). Puspan. L. 110–246, § 5403(a), added cl. (ii) and redesignated former cl. (ii) as (iii).

1988—Subsec. (a). Puspan. L. 100–233, § 802(o)(1), struck out “, with the approval of Farm Credit Administration,” after “board determines”.

Subsec. (span). Puspan. L. 100–233, § 802(o)(2), struck out “with the approval of the Farm Credit Administration” after “board may determine”.

Subsec. (d). Puspan. L. 100–233, § 805(k), substituted “by” for “by by” after “regulations issued”.

Subsec. (e). Puspan. L. 100–233, § 802(o)(3), struck out “and approved by the Farm Credit Administration” after “Board”.

1985—Subsec. (d). Puspan. L. 99–205, § 205(e)(3), inserted “under regulations issued by” after “authorized”.

Subsec. (e). Puspan. L. 99–205, § 205(e)(4), struck out “, except for stock held by the Governor,” before “may be exchanged”.

1980—Subsec. (f). Puspan. L. 96–592 added subsec. (f).

Statutory Notes and Related Subsidiaries

Effective Date of 2008 Amendment

Amendment of this section and repeal of Puspan. L. 110–234 by Puspan. L. 110–246 effective May 22, 2008, the date of enactment of Puspan. L. 110–234, see section 4 of Puspan. L. 110–246, set out as an Effective Date note under section 8701 of Title 7, Agriculture.

Effective Date of 1985 Amendment

Amendment by Puspan. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Puspan. L. 99–205, set out as a note under section 2001 of this title.