Title 12 — Banks and Banking
Part E · Chapter 23 — Farm Credit System
§ 2277a. Definitions
Statutory text
As used in this part:
Board of Directors
The term “Board of Directors” means the Board of Directors of the Corporation.
Corporation
The term “Corporation” means the Farm Credit System Insurance Corporation established in section 2277a–1 of this title.
Insured obligation
The term “insured obligation” means any note, bond, debenture, or other obligation issued under subsection (c) or (d) of section 2153 of this title—
on or before , on behalf of any System bank; and
after such date, which, when issued, is issued on behalf of any insured System bank.
Insured System bank
The term “insured System bank” means any System bank whose participation in notes, bonds, debentures, and other obligations issued under subsection (c) or (d) of section 2153 of this title is insured under this part.
State
The term “State” means any of the 50 States, the District of Columbia, any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands.
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 V § 5 · 85 Stat. 583
Enacted · 12 U.S.C. § 2277a
Pub. L. 92–181, title V, § 5.51, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1611
Source evidence
Code source credit
Pub. L. 92–181, title V, § 5.51, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1611Enacted provision · exact public law section
(5) Acquire, hold, dispose, and otherwise exercise all the usual incidents of ownership of real and personal property necessary or convenient to its business.Agricultural Credit Technical Corrections Act of 1988
Pub. L. 100–399 § 302(a) · 102 Stat. 989
Amended · 12 U.S.C. § 2277a(3)(A); 12 U.S.C. § 2277a(3)(B)
Pub. L. 100–399, § 302(a), amended subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:
Source evidence
Code amendment note
Par. (3)(A), (B). Pub. L. 100–399, § 302(a), amended subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:“(A) on or before January 6, 1988, on behalf of any System bank; and “(B) after such date, on behalf of any insured System bank.”
Enacted provision · exact public law section
(a) Subparagraphs (A) and (B) of section 5.51(3) are amended to read as follows: “(A) on or before January 5, 1989, on behalf of any System bank; and “(B) after such date, which, when issued, is issued on behalf of any insured System bank.”Effective date note
Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.Agricultural Credit Technical Corrections Act of 1988
Pub. L. 100–399 § 302(b) · 102 Stat. 989
Substituted · 12 U.S.C. § 2277a(5)
Pub. L. 100–399, § 302(b), substituted “for” for “to liquidate”
Source evidence
Code amendment note
Par. (5). Pub. L. 100–399, § 302(b), substituted “for” for “to liquidate”.Enacted provision · exact public law section
(b) Section 5.51(5) is amended by striking out “to liquidate” and inserting in lieu thereof “for”.Effective date note
Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.Farm Credit System Reform Act of 1996
Pub. L. 104–105 title II § 214(a) · 110 Stat. 162
Redesignated · 12 U.S.C. § 2277a(5); 12 U.S.C. § 2277a(6)
Pub. L. 104–105 redesignated par. (6) as (5)
Struck · 12 U.S.C. § 2277a(5); 12 U.S.C. § 2277a(6)
Pub. L. 104–105 struck out heading and text of former par. (5). Text read as follows: “The term ‘receiver’ means a receiver or conservator appointed by the Farm Credit Administration for a System institution.”
Source evidence
Code amendment note
Pars. (5), (6). Pub. L. 104–105 redesignated par. (6) as (5) and struck out heading and text of former par. (5). Text read as follows: “The term ‘receiver’ means a receiver or conservator appointed by the Farm Credit Administration for a System institution.”Enacted provision · exact public law section
(a) Definitions.— Section 5.51 of the Farm Credit Act of 1971 (12 U.S.C. 2277a) is amended— (1) by striking paragraph (5); and (2) by redesignating paragraph (6) as paragraph (5).
5 of 5 references resolved to an enrolled provision
Editorial Notes
Amendments1988–1996 · 2 rounds
1996
Pars. (5), (6). Pub. L. 104–105 redesignated par. (6) as (5) and struck out heading and text of former par. (5). Text read as follows: “The term ‘receiver’ means a receiver or conservator appointed by the Farm Credit Administration for a System institution.”
1988
Par. (3)(A), (B). Pub. L. 100–399, § 302(a), amended subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:
“(A) on or before , on behalf of any System bank; and
“(B) after such date, on behalf of any insured System bank.”
Par. (5). Pub. L. 100–399, § 302(b), substituted “for” for “to liquidate”.
Statutory Notes and Related Subsidiaries
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved , see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.
Executive Documents
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.
Credits
1988–1996 · 3 acts
- 1988Pub. L. 92–181, title V, § 5.51, as added Pub. L. 100–233, title III, § 302, , 101 Stat. 1611
- 1988amended Pub. L. 100–399, title III, § 302(a), (b), , 102 Stat. 994
- 1996Pub. L. 104–105, title II, § 214(a), , 110 Stat. 175.
Show as published
(Pub. L. 92–181, title V, § 5.51, as added Pub. L. 100–233, title III, § 302, , 101 Stat. 1611; amended Pub. L. 100–399, title III, § 302(a), (b), , 102 Stat. 994; Pub. L. 104–105, title II, § 214(a), , 110 Stat. 175.)