Title 12 — Banks and Banking
Part E · Chapter 23 — Farm Credit System
§ 2214. State laws
Statutory text
State and other laws shall apply to corporations organized pursuant to this part to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: Provided, however, That to the extent that sections 2023, 2098, and 2134 of this title may exempt banks or associations of the Farm Credit System from taxation, such exemptions, other than with respect to franchise taxes, shall not extend to corporations organized pursuant to this part.
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.
Farm Credit Act of 1971
Pub. L. 92–181 title IV § 4 · 85 Stat. 583
Enacted · 12 U.S.C. § 2214
Pub. L. 92–181, title IV, § 4.28, as added Pub. L. 96–592, title IV, § 404, Dec. 24, 1980, 94 Stat. 3448
Source evidence
Code source credit
Pub. L. 92–181, title IV, § 4.28, as added Pub. L. 96–592, title IV, § 404, Dec. 24, 1980, 94 Stat. 3448Enacted provision · exact public law section
(4) Sue and be sued.Agricultural Credit Technical Corrections Act of 1988
Pub. L. 100–399 title IX § 901(k) · 102 Stat. 989
Inserted · 12 U.S.C. § 2214
Pub. L. 100–399 inserted “or associations”
Substituted · 12 U.S.C. § 2214
Pub. L. 100–399 substituted “2023, 2098,” for “2055, 2079,”
Source evidence
Code amendment note
Pub. L. 100–399 inserted “or associations” and substituted “2023, 2098,” for “2055, 2079,”.Enacted provision · exact public law section
(k) Section 4.28 is amended— (1) by inserting “or associations” after “exempt banks”; and (2) by striking out “1.21, 2.8,” and inserting in lieu thereof “1.15, 2.17,”.Pub. L. 102–237 title V § 502(g) · 105 Stat. 1818
Changed · 12 U.S.C. § 2214
Pub. L. 102–237 made technical amendment to reference to section 2098 of this title to reflect change in reference to corresponding section of original act
Source evidence
Code amendment note
Pub. L. 102–237 made technical amendment to reference to section 2098 of this title to reflect change in reference to corresponding section of original act.Enacted provision · exact public law section
(g) Amendment to Section 4.28.— Section 4.28 of such Act (12 U.S.C. 2214) is amended by striking “2.17” and inserting “2.16”.Effective date note
Amendment by Pub. L. 102–237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, to which the amendment relates, see section 1101(b)(4) of Pub. L. 102–237, set out as a note under section 1421 of Title 7, Agriculture.
4 of 4 references resolved to an enrolled provision
Editorial Notes
Amendments1988–1991 · 2 rounds
1991
Pub. L. 102–237 made technical amendment to reference to section 2098 of this title to reflect change in reference to corresponding section of original act.
1988
Pub. L. 100–399 inserted “or associations” and substituted “2023, 2098,” for “2055, 2079,”.
Statutory Notes and Related Subsidiaries
Effective Date of 1991 Amendment
Amendment by Pub. L. 102–237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, to which the amendment relates, see section 1101(b)(4) of Pub. L. 102–237, set out as a note under section 1421 of Title 7, Agriculture.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399 effective immediately after amendment made by section 401 of Pub. L. 100–233, which was effective 6 months after , see section 1001(b) of Pub. L. 100–399, set out as a note under section 2002 of this title.
Credits
1980–1991 · 3 acts
- 1980Pub. L. 92–181, title IV, § 4.28, as added Pub. L. 96–592, title IV, § 404, , 94 Stat. 3448
- 1988amended Pub. L. 100–399, title IX, § 901(k), , 102 Stat. 1007
- 1991Pub. L. 102–237, title V, § 502(g), , 105 Stat. 1869.
Show as published
(Pub. L. 92–181, title IV, § 4.28, as added Pub. L. 96–592, title IV, § 404, , 94 Stat. 3448; amended Pub. L. 100–399, title IX, § 901(k), , 102 Stat. 1007; Pub. L. 102–237, title V, § 502(g), , 105 Stat. 1869.)