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12 U.S.C. § 2146 — Consolidation of functions

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

12 U.S.C. § 2146 — Consolidation of functions

Subject to [section 2143 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2143&num=0&edition=prelim), to the greatest extent practicable, the functions of the consolidated bank shall be consolidated in the central office of the bank.

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Source location: Title 12, Chapter 23, § 2146; chapter-023-farm-credit-system.md

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

12 U.S.C. § 2143 — Charter, powers, and operation

**(a) Charter** The National Bank for Cooperatives (hereinafter in this part referred to as the “consolidated bank”), established under section 413 of the Agricultural Credit Act of 1987, shall be a federally chartered instrumentality of the United States and an institution of the Farm Credit System. **(b) Powers** The consolidated bank and the board of directors of such bank shall have all of the powers, rights, responsibilities, and obligations of the constituent banks described in section 413(b) of the Agricultural Credit Act of 1987 ([12 U.S.C. 2121](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2121&num=0&edition=prelim) note; Public Law 100–233) and the boards of directors of such banks, except as otherwise provided for in this chapter. **(c) Operation** The consolidated bank shall be organized and operated on a cooperative basis.

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

12 U.S.C. § 2146 — Capitalization

Page 1322 TITLE 12—BANKS AND BANKING § 2144 may consider the creation of regional service centers to accommodate such loan concentra- tions. (Pub. L. 92–181, title III, § 3.22, as added Pub. L. 100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat. 1643; amended Pub. L. 100–399, title IV, § 407(e), Aug. 17, 1988, 102 Stat. 1000.) Editorial Notes REFERENCES IN TEXT Section 413 of the Agricultural Credit Act of 1987, re- ferred to in text, is section 413 of Pub. L. 100–233, which is set out as a note under section 2121 of this title. AMENDMENTS 1988—Pub. L. 100–399 substituted ‘‘consolidated bank’’ for ‘‘United Bank for Cooperatives or the National Bank for Cooperatives’’ and ‘‘establishment of the bank under section 413 of the Agricultural Credit Act of 1987’’ for ‘‘merger’’. 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 Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title. § 2144. Consolidation of functions Subject to section 2143 of this title, to the greatest extent practicable, the functions of the consolidated bank shall be consolidated in the central office of the bank. (Pub. L. 92–181, title III, § 3.23, as added Pub. L. 100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat. 1644.) § 2145. Exchange of ownership interests On the establishment of the consolidated bank, ownership interests of the stockholders and subscribers to the guaranty funds of the constituent district banks for cooperatives (in- cluding stock, participation certificates, and al- located equities) shall be exchanged for like ownership interests in the consolidated bank o

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