§ 2212. Powers of Farm Credit Administration

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1980

   Farm Credit Act of 1971

   Pub. L. 92–181 title IV § 4 · 85 Stat. 583

   Enacted · 12 U.S.C. § 2212

   Pub. L. 92–181, title IV, § 4.26, as added Pub. L. 96–592, title IV, § 404, Dec. 24, 1980, 94 Stat. 3447

   Source evidence

   Code source credit
   Pub. L. 92–181, title IV, § 4.26, as added Pub. L. 96–592, title IV, § 404, Dec. 24, 1980, 94 Stat. 3447

   Enacted provision · exact public law section
   (4) Sue and be sued.

2. 1985

   Farm Credit Amendments Act of 1985

   Pub. L. 99–205 title II § 205(f)(9) · 99 Stat. 1678

   1. Substituted · 12 U.S.C. § 2212

      Pub. L. 99–205 substituted “Farm Credit Administration” for “Governor” in heading and wherever appearing in text

   2. Substituted · 12 U.S.C. § 2212

      Pub. L. 99–205 substituted “the Federal Credit Administration” for “he” before “finds necessary” in first sentence

   Source evidence

   Code amendment note
   Pub. L. 99–205 substituted “Farm Credit Administration” for “Governor” in heading and wherever appearing in text, and substituted “the Federal Credit Administration” for “he” before “finds necessary” in first sentence.

   Enacted provision · exact public law section
   (9) in section 4.26— (A) striking out “governor” in the section heading and inserting in lieu thereof “farm credit administration”; (B) striking out “Governor” wherever that word appears in the text and inserting in lieu thereof “Farm Credit Administration”; (C) striking out “he” in the first sentence and inserting in lieu thereof “the Farm Credit Administration”; and

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

3. 1988

   Agricultural Credit Act of 1987

   Pub. L. 100–233 title VIII § 802(s) · 101 Stat. 1568

   1. Struck · 12 U.S.C. § 2212

      Pub. L. 100–233 struck out “or by prescribing in the terms of the charter or by approval of the bylaws of the corporation” after second reference to Farm Credit Administration

   2. Substituted · 12 U.S.C. § 2212

      Pub. L. 100–233 substituted “approve amendments consistent with this chapter to charters or articles of service corporations” for “direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter”

   3. Struck · 12 U.S.C. § 2212

      Pub. L. 100–233 struck out last sentence which read as follows: “The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of—

   Source evidence

   Code amendment note
   Pub. L. 100–233 struck out “or by prescribing in the terms of the charter or by approval of the bylaws of the corporation” after second reference to Farm Credit Administration, substituted “approve amendments consistent with this chapter to charters or articles of service corporations” for “direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter”, and struck out last sentence which read as follows: “The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of—

   “(1) corporate title; “(2) general corporate powers; “(3) eligibility for membership on, and the powers, composition, selection, terms, and compensation of the board of directors; “(4) classes, issuance, value, and retirement of stock; “(5) sources of operating funds; “(6) dissolution, liquidation, and distribution of assets on liquidation; and “(7) application and distribution of earnings.”

   Enacted provision · exact public law section
   (s) Powers of the Farm Credit Administration.— Section 4.26 (12 U.S.C. 2212) is amended— (1) by striking out “or by prescribing in the terms of the charter or by approval of the bylaws of the corporation”; (2) by striking out “direct at any time” and all that follows through the period at the end of the first sentence and inserting in lieu thereof “approve amendments consistent with this Act to charters or articles of service corporations.”; and (3) by striking out the second sentence.

6 of 6 references resolved to an enrolled provision