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12 U.S.C. § 2253 — Quarters and facilities for the Farm Credit Administration
Federal law — U.S. Code and appendices · legal_authorities
**(a) Location of principal office** The Farm Credit Administration shall maintain its principal office within the Washington D.C.-Maryland-Virginia standard metropolitan statistical area, and such other offices within the United States as in its judgment are necessary.
**(b) Alternate property authorizations for System banks** As an alternate to the rental of quarters under [section 2249 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2249&num=0&edition=prelim), and without regard to any other provision of law, the banks of the System, with the concurrence of two-thirds of the bank boards, are hereby authorized—
(1) To lease or acquire real property in the District of Columbia or elsewhere for quarters of the Farm Credit Administration.
(2) To construct, develop, furnish, and equip such building thereon and such facilities appurtenant thereto as in their judgment may be appropriate to provide, to the extent the Board may deem advisable, suitable, and adequate quarters and facilities for the Farm Credit Administration.
(3) To enlarge, remodel, or reconstruct the same.
(4) To make or enter into contracts for any of the foregoing.
(5) To sell or otherwise dispose of any interest in property leased or acquired under the foregoing if authorized by the Board.
**(c) Financing**
(1) **In general** — The Board may require of the respective banks of the System, and they shall make to the Farm Credit Administration, such advances of funds for the purposes set out in this section as in the sole judgment of the Board may from time to time be advisable for the purposes of this section.
(2) **Advances** — The advances of funds described in paragraph (1) shall be in addition to and kept in a separate fund from the assessments authori
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Stable record: federal_law:legal_authorities:record_usc_8dd3b21c99dda36b73f50015
Source file: Laws/federal/codes/united-states-code/title-12/section-2253-quarters-and-facilities-for-the-farm-credit-administration--0655ba6d00.md
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Source location: Title 12, Chapter 23, § 2253; chapter-023-farm-credit-system.md
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**(a) Location of principal office** The Farm Credit Administration shall maintain its principal office within the Washington D.C.-Maryland-Virginia standard metropolitan statistical area, and such other offices within the United States as in its judgment are necessary.
**(b) Alternate property authorizations for System banks** As an alternate to the rental of quarters under [section 2249 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2249&num=0&edition=prelim), and without regard to any other provision of law, the banks of the System, with the concurrence of two-thirds of the bank boards, are hereby authorized—
(1) To lease or acquire real property in the District of Columbia or elsewhere for quarters of the Farm Credit Administration.
(2) To construct, develop, furnish, and equip such building thereon and such facilities appurtenant thereto as in their judgment may be appropriate to provide, to the extent the Board may deem advisable, suitable, and adequate quarters and facilities for the Farm Credit Administration.
(3) To enlarge, remodel, or reconstruct the same.
(4) To make or enter into contracts for any of the foregoing.
(5) To sell or otherwise dispose of any interest in property leased or acquired under the foregoing if authorized by the Board.
**(c) Financing**
(1) **In general** — The Board may require of the respective banks of the System, and they shall make to the Farm Credit Administration, such advances of funds for the purposes set out in this section as in the sole judgment of the Board may from time to time be advisable for the purposes of this section.
(2) **Advances** — The advances of funds described in paragraph (1) shall be in addition to and kept in a separate fund from the assessments authorized in [section 2250 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2250&num=0&edition=prelim) and shall be apportioned by the Board among the banks in proportion to the total assets of the respective banks, and determined in such manner and at such times as the Board may prescribe.
(3) **Powers of banks** — The powers of the banks of the System and purposes for which obligations may be issued by such banks are hereby enlarged to include the purpose of obtaining funds to permit the making of advances required by this section.
(4) **Approval of board** — The plans and decisions for such building and facilities and for the enlargement, remodeling, or reconstruction thereof shall be such as is approved in the sole discretion of the Board.
(5) **Agent for banks** — In actions undertaken by the banks pursuant to this section, the Farm Credit Administration may act as agent for the banks.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 92–181, title VIII, § 8.38, as added Pub. L. 104–105, title I, § 117, Feb. 10, 1996, 110 Stat. 168, related to recapitalization of Corporation.
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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
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 92–181, title V, § 5.13, Dec. 10, 1971, 85 Stat. 620, related to authority of Governor of the Farm Credit Administration to fix powers and duties of divisions and instrumentalities of the Administration.
#### Effective Date of Repeal
Repeal 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
The Farm Credit Administration shall have a seal, as adopted by the Board, which shall be judicially noted.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Scope and frequency of examinations; power, authority, and liability of examiners** Each institution of the System shall be examined by Farm Credit Administration examiners at such times as the Board may determine, but in no event less than once during each 18-month period. Such examinations may include, if appropriate, but are not limited to, an analysis of credit and collateral quality and capitalization of the institution, and appraisals of the effectiveness of the institution’s management and application of policies governing the carrying out of this chapter and regulations of the Farm Credit Administration and servicing all eligible borrowers. Examination of banks shall include an analysis of the compensation paid to the chief executive officer and the salary scales of the employees of the bank. At the direction of the Board, Farm Credit Administration examiners also shall make examinations of the condition of any organization, other than federally regulated financial institutions, to, for, or with which any institution of the System contemplates making a loan or discounting paper. For the purposes of this chapter, examiners of the Farm Credit Administration shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [[12 U.S.C. 21](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section21&num=0&edition=prelim) et seq.], the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.], and Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.], and other provisions of law and s
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Federal law — U.S. Code and appendices · legal_authorities
Page 1359
TITLE 12—BANKS AND BANKING
§ 2254
sions set out as notes under section 2011 of this title]
take effect on January 1, 2010.’’
[Pub. L. 110–234 and Pub. L. 110–246 enacted identical
provisions. Pub. L. 110–234 was repealed by section 4(a)
of Pub. L. 110–246, set out as a note under section 8701
of Title 7, Agriculture.]
EFFECTIVE DATE OF 1991 AMENDMENT
Amendment by Pub. L. 102–237 effective as if included
in the provision of the Food, Agriculture, Conservation,
and Trade Act of 1990, Pub. L. 101–624, to which the
amendment relates, see section 1101(b)(4) of Pub. L.
102–237, set out as a note under section 1421 of Title 7,
Agriculture.
EFFECTIVE DATE OF 1988 AMENDMENTS
Amendment by sections 205 and 409(a), (e) of Pub. L.
100–399 effective as if enacted immediately after enact-
ment of Pub. L. 100–233, which was approved Jan. 6,
1988, and amendment by section 901(m), (n) of Pub. L.
100–399 effective immediately after amendment made
by section 401 of Pub. L. 100–233, which was effective 6
months after Jan. 6, 1988, see section 1001 of Pub. L.
100–399, set out as a note under section 2002 of this title.
Amendment by section 207(a)(2) of Pub. L. 100–233 ef-
fective 15 days after Jan. 6, 1988, see section 207(b) of
Pub. L. 100–233 set out as an Effective Date of Repeal
note under section 2152 of this title.
EFFECTIVE DATE OF 1985 AMENDMENT
Amendment by Pub. L. 99–205 effective thirty days
after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set
out as a note under section 2001 of this title.
REGULATIONS
Pub. L. 100–233, title IV, § 424(b), Jan. 6, 1988, 101 Stat.
1656, provided that: ‘‘Within 30 days after the date of
the enactment of this Act [Jan. 6, 1988], the Farm Cred-
it Administration shall amend its regulations as nec-
essary t
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