Browse Arkansas Code titles and sections
12 U.S.C. § 2123 — Establishment; titles; branches
Federal law — U.S. Code and appendices · legal_authorities
The banks for cooperatives established pursuant to sections 2 and 30 of the Farm Credit Act of 1933, as amended, shall continue as federally chartered instrumentalities of the United States. The Farm Credit Administration shall approve amendments consistent with this chapter to charters and organizational certificates of banks for cooperatives. Unless an existing bank for cooperatives is merged with another bank, there shall be a bank for cooperatives in each farm credit district. A bank for cooperatives may include in its title the name of the city in which it is located or other geographical designation. When authorized by the Farm Credit Administration each bank for cooperatives may establish such branches or other offices as may be appropriate for the effective operation of its business.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2123
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 0ab16845e5a4735be49a420747097db5276db11320e45fde616fd3739e0ee178. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_12aa8c33537284072aa37c7f
Source file: Laws/federal/codes/united-states-code/title-12/section-2123-establishment-titles-branches--15154fdf7d.md
Pages: Not recorded – Not recorded
Passage SHA-256: 44678e6f17a31880b7c8f875a6fa7c66894f8c758a786346c375d137b0cbe59f
Source location: Title 12, Chapter 23, § 2123; chapter-023-farm-credit-system.md
Stored source content
The banks for cooperatives established pursuant to sections 2 and 30 of the Farm Credit Act of 1933, as amended, shall continue as federally chartered instrumentalities of the United States. The Farm Credit Administration shall approve amendments consistent with this chapter to charters and organizational certificates of banks for cooperatives. Unless an existing bank for cooperatives is merged with another bank, there shall be a bank for cooperatives in each farm credit district. A bank for cooperatives may include in its title the name of the city in which it is located or other geographical designation. When authorized by the Farm Credit Administration each bank for cooperatives may establish such branches or other offices as may be appropriate for the effective operation of its business.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
At the time a System institution or an agricultural mortgage loan originator (as defined in [section 2279aa of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa&num=0&edition=prelim)) approves a loan made to a borrower that, in the opinion of the institution or originator, would be ineligible for a loan made, insured, or guaranteed under the Consolidated Farm and Rural Development Act ([7 U.S.C. 1921](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1921&num=0&edition=prelim) et seq.) by reason of subtitle B or C of title XII of the Food Security Act of 1985 ([16 U.S.C. 3811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section3811&num=0&edition=prelim) et seq.), the institution or originator, as the case may be, shall encourage the borrower to contact the Department of Agriculture Soil Conservation Service to obtain information about soil conservation methods and practices.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2221
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Voluntary liquidation** The Corporation may voluntarily liquidate only with the consent of, and in accordance with a plan of liquidation approved by, the Farm Credit Administration Board.
**(b) Involuntary liquidation**
(1) **In general** — The Farm Credit Administration Board may appoint a conservator or receiver for the Corporation under the circumstances specified in [section 2183(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2183/b&num=0&edition=prelim).
(2) **Application** — In applying [section 2183(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2183/b&num=0&edition=prelim) to the Corporation under paragraph (1)—
(A) the Corporation shall also be considered insolvent if the Corporation is unable to pay its debts as they fall due in the ordinary course of business;
(B) a conservator may also be appointed for the Corporation if the authority of the Corporation to purchase qualified loans or issue or guarantee loan-backed securities is suspended; and
(C) a receiver may also be appointed for the Corporation if—
(i)
(I) the authority of the Corporation to purchase qualified loans or issue or guarantee loan-backed securities is suspended; or
(II) the Corporation is classified under [section 2279bb–4 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279bb-4&num=0&edition=prelim) as within level III or IV and the alternative actions available under part B are not satisfactory; and
(ii) the Farm Credit Administration determines that the appointment of a conservator would not be appropriate.
(3) **No effect on supervisory actions** — The grounds for appointment of a conservator for the Corporation
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2002
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Each Federal land bank association shall have a first lien on the stock and participation certificates it issues, except on stock or participation certificates held by other Farm Credit System institutions, for the payment of any liability of the stockholder to the association or to the bank, or to both of them.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2121
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 1134f, act June 16, 1933, ch. 98, title III, § 30, 48 Stat. 261, authorized the creation of a central bank for cooperatives. See [section 2121 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2121&num=0&edition=prelim).
Section 1134g, acts June 16, 1933, ch. 98, title III, § 31, 48 Stat. 262; Aug. 11, 1955, ch. 785, title I, § 104, 69 Stat. 659; June 11, 1960, Pub. L. 86–503, § 1 (part), 74 Stat. 197, provided for a board of directors for central bank for cooperatives. See [section 2123 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2123&num=0&edition=prelim).
Section 1134h, acts June 16, 1933, ch. 98, title III, § 32, 48 Stat. 262; Aug. 11, 1955, ch. 785, title I, § 105, 69 Stat. 661, set out powers of board of directors for central bank for cooperative. See [section 2123 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2123&num=0&edition=prelim).
Section 1134i, acts June 16, 1933, ch. 98, title III, § 33, 48 Stat. 262; Aug. 11, 1955, ch. 785, title I, § 108(a), 69 Stat. 662, provided for capital stock of central bank for cooperatives. See [section 2124 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2124&num=0&edition=prelim).
Section 1134j, acts June 16, 1933, ch. 98, title III, §§ 34, 38, 48 Stat. 262, 264; June 3, 1935, ch. 164, § 13, 49 Stat. 317; Aug. 19, 1937, ch. 704, § 35, 50 Stat. 716; Oct. 31, 1949, ch. 792, title IV, § 417(b), 63 Stat. 1059; Aug. 11, 1955, ch. 785, title I, §§ 106, 108(b), 69 Stat. 661, 662; July 26, 1956, ch. 741, title I, § 105(j), 70 Stat. 665; Aug. 2, 1966, Pub. L. 89–525, § 4(a), 80 Stat. 334; Dec. 15, 1967, Pub. L. 90–204, § 3(b), 81
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 636 to 636h
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1312
TITLE 12—BANKS AND BANKING
§ 2123
credit, or other technical and financial assist-
ance.
(12) Deposit its securities and its current funds
with any member bank of the Federal Reserve
System or any insured State nonmember bank
(within the meaning of section 1813 of this title)
or, to the extent necessary to facilitate trans-
actions which may be financed under section
2128(b) of this title, any other financial organi-
zation, domestic or foreign, as may be author-
ized by its board of directors, and pay fees there-
for and receive interest thereon as may be
agreed. When designated for that purpose by the
Secretary of the Treasury, it shall be a deposi-
tory of public money, except receipts from cus-
toms, under such regulations as may be pre-
scribed by the Secretary; may be employed as a
fiscal agent of the Government, and shall per-
form all such reasonable duties as a depository
of public money or financial agent of the Gov-
ernment as may be required of it. No Govern-
ment funds deposited under the provisions of
this subsection shall be invested in loans or
bonds or other obligations of the bank.
(13)(A) Buy and sell obligations of or insured
by the United States or of any agency thereof,
or securities backed by the full faith and credit
of any such agency and make such other invest-
ments as may be authorized under regulations
issued by the Farm Credit Administration.
(B) As may be authorized by its board of direc-
tors, buy from and sell to Farm Credit System
institutions interests in loans and in other fi-
nancial
assistance
extended
and
nonvoting
stock.
(C) As may be authorized by its board of direc-
tors, and solely for the purposes of obtaining
credit information and other services needed to
facilitate transactions which may
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2123
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.