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12 U.S.C. § 2153 — Repealed. Pub. L. 115–334, title V, § 5411(17), Dec. 20, 2018, 132 Stat. 4680
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 92–181, title IV, § 4.0, Dec. 10, 1971, 85 Stat. 609; Pub. L. 99–205, title I, § 101(1), Dec. 23, 1985, 99 Stat. 1678; Pub. L. 100–233, title II, § 202, Jan. 6, 1988, 101 Stat. 1605; Pub. L. 100–399, title II, § 202, Aug. 17, 1988, 102 Stat. 992, related to the revolving fund in effect immediately before Jan. 6, 1988.
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Source file: Laws/federal/codes/united-states-code/title-12/section-2153-repealed-pub-l-115334-title-v-5411-17-dec-20-2018-132-stat-4680--0e22f8c78b.md
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Source location: Title 12, Chapter 23, § 2153; chapter-023-farm-credit-system.md
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### Statutory Notes
Section, Pub. L. 92–181, title IV, § 4.0, Dec. 10, 1971, 85 Stat. 609; Pub. L. 99–205, title I, § 101(1), Dec. 23, 1985, 99 Stat. 1678; Pub. L. 100–233, title II, § 202, Jan. 6, 1988, 101 Stat. 1605; Pub. L. 100–399, title II, § 202, Aug. 17, 1988, 102 Stat. 992, related to the revolving fund in effect immediately before Jan. 6, 1988.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Chairman of Farm Credit Administration Board; power and authority**
(1) The Chairman of the Board shall be the chief executive officer of the Farm Credit Administration.
(2) In carrying out the responsibilities of the chief executive officer, the Chairman shall be responsible for directing the implementation of policies and regulations adopted by the Board and, after consultation with the Board, the execution of the administrative functions and duties of the Farm Credit Administration.
(3) In carrying out policies as directed by the Board, the Chairman shall act as spokesperson for the Board and represent the Board and the Farm Credit Administration in their official relations within the Federal Government.
(4) Under policies adopted by the Board, the Chairman shall consult on a regular basis with—
(A) the Secretary of the Treasury concerning the exercise, by the System, of the powers conferred under [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim);
(B) the Board of Governors of the Federal Reserve System concerning the effect of System lending activities on national monetary policy; and
(C) the Secretary of Agriculture concerning the effect of System policies on farmers, ranchers, and the agricultural economy.
**(b) Governing standards** In carrying out responsibilities under this chapter, the Chairman of the Board shall be governed by general policies adopted by the Board and by such regulatory decisions, findings, and determinations as the Board may by law be authorized to make and, as to third persons, all acts of the Chairman of the Board shall be conclusively presumed to be in compliance with such general policies and regulatory decisions, findings, and determina
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2246
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enumerated powers** The Farm Credit Administration shall have the following powers, functions, and responsibilities in connection with the institutions of the Farm Credit System and the administration of this chapter:
(1) Modify the boundaries of farm credit districts, with due regard for the farm credit needs of the country, as approved by the Board, with the concurrence of the district banks involved.
(2) Where necessary or appropriate to carry out the policy and objectives of this chapter, issue and approve amendments to Federal charters of institutions of the System; approve change in names of banks operating under this chapter; approve the merger of districts when agreed to by the district bank boards involved and by a majority vote of the voting stockholders and contributors to the guaranty funds of each bank for each of such districts, voting in the same manner as is provided in [section 2279a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279a&num=0&edition=prelim); approve mergers and any related activities as provided for in subchapter VII; and approve the consolidation or division of the territories of institutions when agreed to by a majority vote of the voting stockholders or contributors to the guaranty fund of each of the institutions involved; and approve consolidations of boards of directors when agreed to by a majority vote of the voting stockholders or contributors to the guaranty fund of each of the institutions involved. The Farm Credit Administration Board, after consultation with the respective boards of directors of the affected banks, may require two or more banks operating under the same or different titles to merge if the Board determines that one of such banks has failed to meet its outstan
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2254
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of institution** In this section, the term “institution” includes any System institution for which the Corporation has been appointed as conservator or receiver.
**(b) Certain powers and duties of Corporation as conservator or receiver** In addition to the powers inherent in the express grant of corporate authority under [section 2277a–7(9) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2277a–7/9&num=0&edition=prelim), and other powers exercised by the Corporation under this part, the Corporation shall have the following express powers to act as a conservator or receiver:
(1) **Rulemaking authority of Corporation** — The Corporation may prescribe such regulations as the Corporation determines to be appropriate regarding the conduct of conservatorships or receiverships.
(2) **General powers**
(A) *Successor to System institution* — The Corporation shall, as conservator or receiver, and by operation of law, succeed to—
(i) all rights, titles, powers, and privileges of the System institution, and of any stockholder, member, officer, or director of such System institution with respect to the System institution and the assets of the System institution; and
(ii) title to the books, records, and assets of any previous conservator or other legal custodian of such System institution.
(B) *Operate the System institution* — The Corporation may, as conservator or receiver—
(i) take over the assets of and operate the System institution with all the powers of the stockholders or members, the directors, and the officers of the System institution and conduct all business of the System institution;
(ii) collect all obligations and money due the System institution;
(iii) perform all functions o
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2277a–12
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Federal law — U.S. Code and appendices · legal_authorities
As used in this part:
(1) **Board of Directors** — The term “Board of Directors” means the Board of Directors of the Corporation.
(2) **Corporation** — The term “Corporation” means the Farm Credit System Insurance Corporation established in [section 2277a–1 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2277a-1&num=0&edition=prelim).
(3) **Insured obligation** — The term “insured obligation” means any note, bond, debenture, or other obligation issued under subsection (c) or (d) of [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim)—
(A) on or before January 5, 1989, on behalf of any System bank; and
(B) after such date, which, when issued, is issued on behalf of any insured System bank.
(4) **Insured System bank** — The term “insured System bank” means any System bank whose participation in notes, bonds, debentures, and other obligations issued under subsection (c) or (d) of [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim) is insured under this part.
(5) **State** — The term “State” means any of the 50 States, the District of Columbia, any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2277a–2
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Federal law — U.S. Code and appendices · legal_authorities
There is hereby established the Farm Credit System Insurance Corporation which shall insure, in accordance with this part, the timely payment of principal and interest on notes, bonds, debentures, and other obligations issued under subsection (c) or (d) of [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim) on behalf of one or more System banks all of which are entitled to the benefits of insurance under this part.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2277a–3
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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
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 861, acts July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Apr. 20, 1920, ch. 154, § 5, 41 Stat. 571; Mar. 4, 1921, ch. 151, 41 Stat. 1362; Aug. 13, 1921, ch. 63, 42 Stat. 159; Ex. Ord. No. 6084, Mar. 27, 1933; June 30, 1945, ch. 204, § 9, 59 Stat. 268; Aug. 18, 1958, Pub. L. 86–168, title I, § 104(b), 73 Stat. 386, authorized issuance of farm loan bonds in amount, denominations, and terms as Farm Credit Administration authorized. See [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim).
Section 862, act July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Ex. Ord. No. 6084, Mar. 27, 1933, directed the Farm Credit Administration to prescribe rules and regulations concerning circumstances and manner in which farm loan bonds shall be paid and retired. See [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim).
Section 863, act July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377, directed that farm loan bonds be delivered through registrar of the district to bank applying for them.
Section 864, acts July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(b), 73 Stat. 386, covered preparation of bonds, custody of plates and dies, exchange for registered bonds, and reexchange for coupons.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 921
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Federal law — U.S. Code and appendices · legal_authorities
Page 1323
TITLE 12—BANKS AND BANKING
§ 2153
described in section 413(b) of the Agricultural
Credit Act of 1987 (12 U.S.C. 2121 note; Public
Law 100–233) with respect to such loans or bor-
rowers.
(Pub. L. 92–181, title III, § 3.28, as added Pub. L.
100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat.
1644; amended Pub. L. 115–334, title V, § 5411(15),
Dec. 20, 2018, 132 Stat. 4680.)
Editorial Notes
AMENDMENTS
2018—Pub. L. 115–334 substituted ‘‘the constituent
banks described in section 413(b) of the Agricultural
Credit Act of 1987 (12 U.S.C. 2121 note; Public Law
100–233)’’ for ‘‘a district bank for cooperatives and the
Central Bank for Cooperatives’’.
§ 2149a. Repealed. Pub. L. 115–334, title V,
§ 5411(16), Dec. 20, 2018, 132 Stat. 4680
Section, Pub. L. 92–181, title III, § 3.29, formerly title
VII, § 7.5, as added Pub. L. 100–233, title IV, § 416, Jan. 6,
1988, 101 Stat. 1646; renumbered § 3.29, Pub. L. 100–399,
title IV, § 408(e), Aug. 17, 1988, 102 Stat. 1001, related to
reports by merged banks for cooperatives.
Section was classified to section 2279a–5 of this title
prior to renumbering by Pub. L. 100–399.
SUBCHAPTER
IV—PROVISIONS
APPLICA-
BLE TO TWO OR MORE CLASSES OF IN-
STITUTIONS OF THE SYSTEM
PART A—FUNDING
§ 2151.
Repealed.
Pub.
L.
115–334,
title
V,
§ 5411(17), Dec. 20, 2018, 132 Stat. 4680
Section, Pub. L. 92–181, title IV, § 4.0, Dec. 10, 1971, 85
Stat. 609; Pub. L. 99–205, title I, § 101(1), Dec. 23, 1985, 99
Stat. 1678; Pub. L. 100–233, title II, § 202, Jan. 6, 1988, 101
Stat. 1605; Pub. L. 100–399, title II, § 202, Aug. 17, 1988,
102 Stat. 992, related to the revolving fund in effect im-
mediately before Jan. 6, 1988.
§ 2152.
Repealed.
Pub.
L.
100–233,
title
II,
§ 207(a)(1), Jan. 6, 1988, 101 Stat. 1607
Section,
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2153
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