Chapter 23. Farm Credit System

• 2001Congressional declaration of policy and objectives
• 2002Farm Credit System

Subchapter I — Farm Credit Banks

• 2011Establishment, charters, titles, branches
• 2012Board of directors
• 2013General corporate powers
• 2014Farm Credit Bank capitalization
• 2015Lending authority
• 2016Interest rates and other charges
• 2017Eligibility
• 2018Security; terms
• 2019Purposes for extensions of credit
• 2020Related services
• 2021Loans through associations or agents
• 2022Liens on stock
• 2023Taxation

Part A — Production Credit Associations

• 2071Organization and charters
• 2072Board of directors
• 2073General corporate powers
• 2074Production credit association capitalization
• 2075Short- and intermediate-term loans; participation; other financial assistance; terms; conditions; interest; security
• 2076Other services
• 2076aLiens on stock
• 2077Taxation

Part B — Federal Land Bank Associations

• 2091Organizations; articles; charters; powers of the Farm Credit Administration
• 2092Board of directors
• 2093General corporate powers
• 2094Federal land bank association capitalization
• 2095Repealed. Pub. L. 100–399, title IV, § 401(v)
• 2096Agreements for sharing gains or losses
• 2097Liens on stock
• 2098Taxation

Part A — Banks for Cooperatives

• 2121Establishment; titles; branches
• 2122Corporate existence; general corporate powers
• 2123Board of directors
• 2124Stock of banks for cooperatives
• 2125Dividends
• 2126Retirement of stock
• 2127Guaranty fund subscriptions in lieu of stock
• 2128Loans, commitments, and technical and financial assistance
• 2129Eligibility
• 2130Ownership of stock by borrowers
• 2131Loans
• 2132Earnings and reserves; application of savings
• 2133Distribution of assets on liquidation or dissolution
• 2134Taxation

Part B — National Banks for Cooperatives

• 2141Charter, powers, and operation
• 2142Repealed. Pub. L. 115–334, title V, § 5411(14)
• 2143Credit delivery office
• 2144Consolidation of functions
• 2145Exchange of ownership interests
• 2146Capitalization
• 2147Patronage pools
• 2148Transactions to accomplish merger
• 2149Lending limits
• 2149aRepealed. Pub. L. 115–334, title V, § 5411(16)

Part A — Funding

• 2151Repealed. Pub. L. 115–334, title V, § 5411(17)
• 2152Repealed. Pub. L. 100–233, title II, § 207(a)(1)
• 2153Power to borrow; issuance of notes, bonds, debentures, and other obligations
• 2154Capital adequacy of banks and institutions
• 2154aCapitalization of System institutions
• 2155Liability of banks; United States not liable
• 2156Repealed. Pub. L. 100–233, title II, § 204(b)
• 2157Bonds as investments
• 2158Purchase and sale by Federal Reserve System
• 2159Purchase and sale of obligations
• 2160Federal Farm Credit Banks Funding Corporation
• 2161Repealed. Pub. L. 100–399, title I, § 101(a)
• 2162Protection of borrower stock

Part B — Dissolution

• 2181, 2182Repealed. Pub. L. 100–233, title IV, § 418(a)(2)
• 2183Dissolution; voluntary or involuntary liquidation; mergers; receiverships or conservators
• 2184Communications with stockholders

Part C — Rights of Borrowers; Loan Restructuring

• 2199Disclosure
• 2200Access to documents and information
• 2201Notice of action on application
• 2202Reconsideration of actions
• 2202aRestructuring distressed loans
• 2202bEffect of restructuring on borrower stock
• 2202cRepealed. Pub. L. 115–334, title V, § 5411(23)
• 2202dProtection of borrowers who meet all loan obligations
• 2202eWaiver of mediation rights by borrowers

Part D — Activities of Institutions of the System

• 2203Nomination of association directors; representative selection of nominees
• 2204Repealed. Pub. L. 102–552, title V, § 508
• 2205Interest rates
• 2206Participation loans
• 2206aAuthority of Farm Credit Banks and direct lender associations to participate in loans to similar entities for risk management purposes
• 2207Young, beginning, and small farmers and ranchers
• 2208Prohibition against use of signed ballots
• 2209Repealed. Pub. L. 115–334, title V, § 5403

Part E — Service Organizations

• 2211Establishment
• 2212Powers of Farm Credit Administration
• 2213Regulation and examination
• 2214State laws
• 2214a“Bank” defined

Part D1 — Farm Credit System Capital Corporation

• 2216 to 2216kRepealed. Pub. L. 100–233, title II, § 207(a)(3)

Part F — Sale of Insurance

• 2218Lines of insurance

Part G — Miscellaneous

• 2219Limitation on separate sale
• 2219aRight of first refusal
• 2219bApplication of uninsured accounts
• 2219cAffirmative action
• 2219dEncouragement of conservation practices
• 2219eLiability for making criminal referrals

Part A — District Organization

• 2221Transferred
• 2222 to 2227Repealed. Pub. L. 100–399, title IV, § 409(d)

Part B — Farm Credit Administration Organization

• 2241Farm Credit Administration
• 2242Farm Credit Administration Board
• 2243Powers of Board
• 2244Chairman; responsibilities; governing standards
• 2245Organization of Farm Credit Administration
• 2246Advisory committees
• 2247Repealed. Pub. L. 99–205, title II, § 201(2)
• 2248Seal of the Farm Credit Administration
• 2249Administrative expenses
• 2250Farm Credit Administration operating expenses fund
• 2251Quarters and facilities for the Farm Credit Administration
• 2252Powers and duties
• 2253Repealed. Pub. L. 115–334, title V, § 5411(30)
• 2254Examinations
• 2255Conditions of other banks and lending institutions
• 2256Consent to the availability of reports and to examinations
• 2257Reports on conditions of institutions receiving loans or deposits
• 2257aUniform financial reporting instructions
• 2258Jurisdiction
• 2259State legislation
• 2260Transferred

Part C — Enforcement Powers of Farm Credit Administration

• 2261Cease and desist proceedings
• 2262Temporary cease and desist orders
• 2263Enforcement of temporary cease and desist orders
• 2264Suspension or removal of director or officer
• 2265Suspension or removal of director or officer charged with felony
• 2265aRemoval and prohibition authority; industry-wide prohibition
• 2266Hearings and judicial review
• 2267Jurisdiction and enforcement
• 2267aJurisdiction over institution-affiliated parties
• 2268Penalty
• 2269Further penalties
• 2270Replacement of suspended or removed directors
• 2271Definitions
• 2272Notice of service
• 2273Ancillary provisions; subpena power; etc.
• 2274Power to remove directors and officers

Part D — Miscellaneous

• 2275Repealed. Pub. L. 115–334, title V, § 5411(36)
• 2275aTransition rules relating to amendment of certain FCA approval authorities
• 2276Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions

Part E — Farm Credit System Insurance Corporation

• 2277aDefinitions
• 2277a–1Establishment of Farm Credit System Insurance Corporation
• 2277a–2Board of Directors
• 2277a–3Commencement of insurance
• 2277a–4Premiums
• 2277a–5Certification of premiums
• 2277a–6Overpayment and underpayment of premiums; remedies
• 2277a–7General corporate powers
• 2277a–8Conduct of corporate affairs; examination of System institutions
• 2277a–9Insurance Fund
• 2277a–10Powers of Corporation with respect to troubled insured System banks
• 2277a–10aOversight actions by Corporation
• 2277a–10bAuthority to regulate golden parachute and indemnification payments
• 2277a–10cCorporation as conservator or receiver; certain other powers
• 2277a–11Investment of funds
• 2277a–12Exemption from taxation
• 2277a–13Omitted
• 2277a–14Prohibitions

Subchapter VI — Assistance to Farm Credit System

• 2278a to 2278b–11Repealed. Pub. L. 115–334, title V, § 5411(39)

Part A — Merger of Banks Within a District

• 2279aPower to merge
• 2279a–1Board of directors
• 2279a–2Powers of merged banks
• 2279a–3Capitalization
• 2279a–4Repealed. Pub. L. 100–399, title IV, § 408(d)
• 2279a–5Transferred

Subpart 1 — transfers by federal land banks to federal land bank associations

• 2279bTransfer of lending authority
• 2279cEqualization of loan-making powers of certain district associations

Subpart 2 — merger of like and unlike associations

• 2279c–1Merger of associations

Subpart 3 — reconsideration

• 2279c–2Reconsideration

Subpart 4 — termination and dissolution of institutions

• 2279dTermination of System institution status

Part C — Approval of Disclosure Information and Issuance of Charters by the Farm Credit Administration Board

• 2279eApproval of disclosure information and issuance of charters

Part D — Mergers of Like Entities

• 2279fMerger of similar banks
• 2279f–1Merger of similar associations

Part E — Taxation of Merger Transactions

• 2279gTransactions to accomplish mergers exempt from certain State taxes

Subchapter VIII — Agricultural Mortgage Secondary Market

• 2279aaDefinitions

Part A — Establishment and Activities of Federal Agricultural Mortgage Corporation

• 2279aa–1Federal Agricultural Mortgage Corporation
• 2279aa–2Board of directors
• 2279aa–3Powers and duties of Corporation and Board
• 2279aa–4Stock issuance
• 2279aa–5Certification of agricultural mortgage marketing facilities
• 2279aa–6Guarantee of qualified loans
• 2279aa–7Repealed. Pub. L. 104–105, title I, § 108(b)
• 2279aa–8Standards for qualified loans
• 2279aa–9Exemption from restructuring and borrowers rights provisions for pooled loans
• 2279aa–10Funding for guarantee; reserves of Corporation
• 2279aa–11Supervision, examination, and report of condition
• 2279aa–12Securities in credit enhanced pools
• 2279aa–13Authority to issue obligations to cover guarantee losses of Corporation
• 2279aa–14Federal jurisdiction

Part B — Regulation of Financial Safety and Soundness of Federal Agricultural Mortgage Corporation

• 2279bbDefinitions
• 2279bb–1Risk-based capital levels
• 2279bb–2Minimum capital level
• 2279bb–3Critical capital level
• 2279bb–4Enforcement levels
• 2279bb–5Mandatory actions applicable to level II
• 2279bb–6Supervisory actions applicable to level III
• 2279bb–7Repealed. Pub. L. 115–334, title V, § 5411(51)

Part C — Receivership, Conservatorship, and Liquidation of Federal Agricultural Mortgage Corporation

• 2279ccConservatorship; liquidation; receivership