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12 U.S.C. § 2091 — Liens on stock
Federal law — U.S. Code and appendices · legal_authorities
Except with regard to stock or participation certificates held by other Farm Credit System institutions, each production credit association shall have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2091
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Stable record: federal_law:legal_authorities:record_usc_7c68489c0653c5b2e35c0906
Source file: Laws/federal/codes/united-states-code/title-12/section-2091-liens-on-stock--b19d496843.md
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Source location: Title 12, Chapter 23, § 2091; chapter-023-farm-credit-system.md
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Except with regard to stock or participation certificates held by other Farm Credit System institutions, each production credit association shall have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.
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Federal law — U.S. Code and appendices · legal_authorities
Each production credit association may provide technical assistance to borrowers, applicants, and members and may make available to them at their option such financial related services appropriate to their on-farm and aquatic operations as is determined feasible by the board of directors of each Farm Credit Bank, under regulations prescribed by the Farm Credit Administration.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2077
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** As used in this section:
(1) The term “Administrator” means the Administrator of the Small Business Administration.
(2) The term “borrower-owner” means—
(A) a borrower of a loan made or insured by the Secretary or the Administrator who meets the eligibility requirements of subsection (c)(1); or
(B) in any case in which an owner of homestead property pledged the property to secure the loan and the owner is different than the borrower, the owner.
(3) The term “farm program loan” means any loan made by the Administrator under the Small Business Act ([15 U.S.C. 631](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section631&num=0&edition=prelim) et seq.) for any of the purposes authorized for loans under subchapters 11 So in original. Probably should be “subchapter”. I or II.
(4) The term “homestead property” means the principal residence and adjoining property possessed and occupied by a borrower-owner specified in paragraph (2) of this subsection, including a reasonable number of farm outbuildings located on the adjoining land that are useful to the occupants of the homestead, and no more than 10 acres of adjoining land that is used to maintain the family of the individual.
(5) The term “Secretary” means the Secretary of Agriculture.
**(b) Occupancy of homestead upon foreclosure, bankruptcy, or liquidation; appraisal; period of occupancy**
(1) The Secretary or the Administrator shall, on application by a borrower-owner who meets the eligibility requirements of subsection (c)(1), permit the borrower-owner to retain possession and occupancy of homestead property under the terms set forth, and until the action described in this section has been completed, if—
(A) the Secretary forecloses, holds in inventory on January
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 2001
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Federal law — U.S. Code and appendices · legal_authorities
Page 1306
TITLE 12—BANKS AND BANKING
§ 2091
§ 2091. Organizations; articles; charters; powers
of the Farm Credit Administration
(a) Charter
Each Federal land bank association shall con-
tinue as a federally chartered instrumentality of
the United States.
(b) Organization
(1) In general
A Federal land bank association may be or-
ganized by any group of 10 or more persons de-
siring to borrow money from a Farm Credit
Bank under section 2015(a) of this title, includ-
ing persons to whom the Farm Credit Bank
has made a loan directly or through an agent
and has taken as security real estate located
in the territory proposed to be served by the
association.
(2) Articles of association
(A) Description of territory
The articles of association shall describe
the territory within which the association
proposes to carry on its operations.
(B) Submission to FCB
Proposed articles shall be forwarded to the
Farm Credit Bank for the district, accom-
panied by an agreement to subscribe on be-
half of the association for stock in accord-
ance with the bylaws of the Farm Credit
Bank.
(C) Stock purchase
Association stock may be paid for by sur-
rendering for cancellation stock in the bank
held by a borrower and the issuance of an
equivalent amount of stock to such borrower
in the association.
(D) Statement
The articles shall be accompanied by a
statement signed by each of the members of
the proposed association establishing—
(i) the individual’s eligibility and re-
quest for a Farm Credit Bank loan;
(ii) that the real estate with respect to
which the individual desires the loan for is
not being served by another Federal land
bank association; and
(iii) that the individual is or will become
a stockholder in the proposed association.
(E) Submission to FCA
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2091
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.