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12 U.S.C. § 2277a — Transition rules relating to amendment of certain FCA approval authorities

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2277a — Transition rules relating to amendment of certain FCA approval authorities

**(a) In general** Any approvals granted by the Farm Credit Administration before January 6, 1988, shall remain in effect on and after such date. **(b) Authority to issue regulations** (1) **In general** — Any approval authority of the Farm Credit Administration that, under the amendments made by section 802 of the Agricultural Credit Act of 1987, became an authority to issue regulations may be exercised only until the earlier of the date the Farm Credit Administration issues final regulations under such authority, or 1 year after January 6, 1988. (2) **Enforcement actions** — At the close of the 1-year period referred to in paragraph (1), the Farm Credit Administration shall not take any enforcement action against any System institution with respect to any provision so amended, until the Farm Credit Administration issues final regulations under such provision. **(c) Effect of section** This section shall not affect the authority of the Farm Credit Administration to exercise any other approval authority either on a case-by-case basis or through regulation, as provided in [section 2252(a)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2252/a/5&num=0&edition=prelim).

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Stable record: federal_law:legal_authorities:record_usc_0941173171575efa5047212f
Source file: Laws/federal/codes/united-states-code/title-12/section-2277a-transition-rules-relating-to-amendment-of-certain-fca-approval-authoriti--9e9e8ef1fc.md
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Source location: Title 12, Chapter 23, § 2277a; chapter-023-farm-credit-system.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2275a — Power to remove directors and officers

Notwithstanding any other provision of this chapter, a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any association.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2279aa–3 — Definitions

For purposes of this subchapter: (1) **Agricultural real estate** — The term “agricultural real estate” means— (A) a parcel or parcels of land, or a building or structure affixed to the parcel or parcels, that— (i) is used for the production of one or more agricultural commodities or products; and (ii) consists of a minimum acreage or is used in producing minimum annual receipts, as determined by the Corporation; or (B) a principal residence that is a single family, moderate-priced residential dwelling located in a rural area, excluding— (i) any community having a population in excess of 2,500 inhabitants; and (ii) any dwelling, excluding the land to which the dwelling is affixed, with a value exceeding $100,000 (as adjusted for inflation). (2) **Board** — The term “Board” means the board of directors established under [section 2279aa–2 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa-2&num=0&edition=prelim). (3) **Certified facility** — The term “certified facility” means— (A) an agricultural mortgage marketing facility that is certified under [section 2279aa–5 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa-5&num=0&edition=prelim); or (B) the Corporation and any affiliate thereof. (4) **Corporation** — The term “Corporation” means the Federal Agricultural Mortgage Corporation established in [section 2279aa–1 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa-1&num=0&edition=prelim). (5) **Guarantee** — The term “guarantee” means the guarantee of timely payment of the principal and interest on securities representing interests in, or obligations backed by, pools of qualified loans, in acco

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2277a — Definitions

Page 1372 TITLE 12—BANKS AND BANKING § 2274 Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title. § 2274. Power to remove directors and officers Notwithstanding any other provision of this chapter, a Farm Credit Bank board, officer, or employee shall not remove any director or offi- cer of any association. (Pub. L. 92–181, title V, § 5.38, as added Pub. L. 100–233, title IV, § 432(c), Jan. 6, 1988, 101 Stat. 1661; amended Pub. L. 115–334, title V, § 5411(35), Dec. 20, 2018, 132 Stat. 4683.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–334 substituted ‘‘a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any’’ for ‘‘a farm credit district board, bank board, or bank officer or employee shall not remove any director or officer of any production credit association or Federal land bank’’. PART D—MISCELLANEOUS § 2275. Repealed. Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683 Section, Pub. L. 92–181, title V, § 5.44, formerly § 5.30, as added Pub. L. 96–592, title V, § 509, Dec. 24, 1980, 94 Stat. 3450; renumbered § 5.44, Pub. L. 99–205, title II, § 205(a)(2), Dec. 23, 1985, 99 Stat. 1703; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814, related to Government Accountability Office audit, report to Congress, and ac- cess and examination of recorded information by the Comptroller General. See section 2276 of this title. Editorial Notes CODIFICATION Section was formerly classified to section 2260 of this title. § 2275a. Transition rules relating to amendment of certain FCA approval authorities (a) In general

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