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12 U.S.C. § 1111 — Repealed. Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 1061, act July 17, 1916, ch. 245, title II, § 205, as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1457; amended May 19, 1932, ch. 191, § 2, 47 Stat. 159; Ex. Ord. No. 6084, Mar. 27, 1933; Jan. 31, 1934, ch. 7, § 15(b), (c), 48 Stat. 348; July 26, 1956, ch. 741, title I, § 102, 70 Stat. 660; Oct. 4, 1965, Pub. L. 89–237, § 1(c), 79 Stat. 922; June 18, 1968, Pub. L. 90–345, § 1(b), 82 Stat. 183; Oct. 17, 1968, Pub. L. 90–582, § 1, 82 Stat. 1145, provided for classes of stock, ownership, dividends, retirement of stock, liens, and participation certificates of intermediate credit banks. See [section 2073 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2073&num=0&edition=prelim).
Section 1062, act July 17, 1916, ch. 245, title II, § 206(a), as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1457; amended Mar. 4, 1925, ch. 524, § 1, 43 Stat. 1262, provided for salaries and expenses of Federal Farm Loan Bureau and for assessments against banks for proportionate share of expense.
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Source location: Title 12, Chapter 7, § 1111; chapter-007-farm-credit-administration.md
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### Statutory Notes
Section 1061, act July 17, 1916, ch. 245, title II, § 205, as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1457; amended May 19, 1932, ch. 191, § 2, 47 Stat. 159; Ex. Ord. No. 6084, Mar. 27, 1933; Jan. 31, 1934, ch. 7, § 15(b), (c), 48 Stat. 348; July 26, 1956, ch. 741, title I, § 102, 70 Stat. 660; Oct. 4, 1965, Pub. L. 89–237, § 1(c), 79 Stat. 922; June 18, 1968, Pub. L. 90–345, § 1(b), 82 Stat. 183; Oct. 17, 1968, Pub. L. 90–582, § 1, 82 Stat. 1145, provided for classes of stock, ownership, dividends, retirement of stock, liens, and participation certificates of intermediate credit banks. See [section 2073 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2073&num=0&edition=prelim).
Section 1062, act July 17, 1916, ch. 245, title II, § 206(a), as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1457; amended Mar. 4, 1925, ch. 524, § 1, 43 Stat. 1262, provided for salaries and expenses of Federal Farm Loan Bureau and for assessments against banks for proportionate share of expense.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Charter** Each production credit association shall continue as a Federally chartered instrumentality of the United States.
**(b) Organization**
(1) **In general** — Production credit associations may be organized by 10 or more farmers or ranchers or producers or harvesters of aquatic products desiring to borrow money under the provisions of this part.
(2) **Articles of association** — The proposed articles of association shall be forwarded to the Farm Credit Bank for the district accompanied by an agreement to subscribe on behalf of the association for stock in the bank in such amounts as may be required by the bank.
(3) **Contents of articles** — The articles shall specify in general terms the—
(A) objects for which the association is formed;
(B) powers to be exercised by the association in carrying out the functions authorized by this part; and
(C) territory the association proposes to serve.
(4) **Signatures** — The articles shall be signed by persons desiring to form such an association and shall be accompanied by a statement signed by each such person establishing eligibility to borrow from the association in which such person will become a stockholder.
(5) **Copy to FCA** — A copy of the articles of association shall be forwarded to the Farm Credit Administration with the recommendations of the bank concerning the need for such an association in order to adequately serve the credit needs of eligible persons in the proposed territory and whether that territory includes any area described in the charter of another production credit association.
(6) **Denial of charter** — The Farm Credit Administration for good cause shown may deny the charter.
(7) **Approval of articles** — On approval of the proposed articles by the Farm Credit Administratio
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Federal law — U.S. Code and appendices · legal_authorities
Page 269
TITLE 12—BANKS AND BANKING
§§ 1131d to 1131g
RULES AND REGULATIONS
§ 1101. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, act July 17, 1916, ch. 245, title II, § 209, as
added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459;
amended Ex. Ord. No. 6084, Mar. 27, 1933, authorized pro-
mulgation of rules and regulations by Farm Credit Ad-
ministration covering operation of intermediate credit
banks.
TAX EXEMPTION
§ 1111. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, act July 17, 1916, ch. 245, title II, § 210, as
added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459, set
out a tax exemption for capital and income of inter-
mediate credit banks and provided that their deben-
tures be deemed instrumentalities of the government.
See section 2079 of this title.
PENALTY PROVISIONS
§§ 1121 to 1128. Repealed. June 25, 1948, ch. 645,
§ 21, 62 Stat. 862, eff. Sept. 1, 1948
Section 1121, act July 17, 1916, ch. 245, title II, § 211(a),
as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459,
related to offenses by officers, employees, or agents.
See sections 657 and 1006 of Title 18, Crimes and Crimi-
nal Procedure.
Section 1122, act July 17, 1916, ch. 245, title II, § 211(b),
as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459,
related to false statements to banks. See section 1014 of
Title 18.
Section 1123, act July 17, 1916, ch. 245, title II, § 211(c),
as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459,
related to overvaluation of property for loan purposes.
See section 1014 of Title 18.
Section 1124, act July 17, 1916, ch. 245, title II, § 211(d),
as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1459,
related to offenses by examiners. See s
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