Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 393. Federal reserve banks as depositaries for Farm Credit System
Statutory text
The Federal Reserve banks are authorized to act as depositaries for and fiscal agents of any Federal land bank, Federal intermediate credit bank, bank for cooperatives, or other institutions of the Farm Credit System.
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.
Pub. L. 67–6 § 15 · 42 Stat. 4
Enacted · 12 U.S.C. § 393
Dec. 23, 1913, ch. 6, § 15 (par.), as added Mar. 4, 1923, ch. 252, title IV, § 406, 42 Stat. 1480
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 15 (par.), as added Mar. 4, 1923, ch. 252, title IV, § 406, 42 Stat. 1480Farm Credit Act of 1971
Pub. L. 92–181 title V § 5 · 85 Stat. 583
Substituted · 12 U.S.C. § 393
Pub. L. 92–181 substituted “Federal land bank, Federal intermediate credit bank, bank for cooperatives, or other institutions of the Farm Credit System” for “national agricultural credit corporation or Federal intermediate credit bank”
Source evidence
Code amendment note
Pub. L. 92–181 substituted “Federal land bank, Federal intermediate credit bank, bank for cooperatives, or other institutions of the Farm Credit System” for “national agricultural credit corporation or Federal intermediate credit bank”.Enacted 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.
1 of 2 references resolved to an enrolled provision · 1 partial
Editorial Notes
Codification
Section is comprised of third par. of section 15 of act , as added . Pars. 1 and 2 of section 15 are classified to sections 391 and 392, respectively, of this title.
Amendments
1971—Pub. L. 92–181 substituted “Federal land bank, Federal intermediate credit bank, bank for cooperatives, or other institutions of the Farm Credit System” for “national agricultural credit corporation or Federal intermediate credit bank”.
Credits
1913–1988 · 4 acts
- 1913Dec. 23, 1913, ch. 6, § 15 (par.), as added Mar. 4, 1923, ch. 252, title IV, § 406, 42 Stat. 1480
- 1971amended Pub. L. 92–181, title V, § 5.41, formerly § 5.27(b), , 85 Stat. 625
- 1985renumbered § 5.41(b), Pub. L. 99–205, title II, § 205(a)(2), , 99 Stat. 1703
- 1988renumbered § 5.41, Pub. L. 100–233, title VIII, § 805(ff)(2), , 101 Stat. 1717.
Show as published
(Dec. 23, 1913, ch. 6, § 15 (par.), as added Mar. 4, 1923, ch. 252, title IV, § 406, 42 Stat. 1480; amended Pub. L. 92–181, title V, § 5.41, formerly § 5.27(b), , 85 Stat. 625; renumbered § 5.41(b), Pub. L. 99–205, title II, § 205(a)(2), , 99 Stat. 1703; renumbered § 5.41, Pub. L. 100–233, title VIII, § 805(ff)(2), , 101 Stat. 1717.)