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12 U.S.C. § 2277a–2 — Definitions
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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Stable record: federal_law:legal_authorities:record_usc_a0b9d5a21dd2c107341b0baa
Source file: Laws/federal/codes/united-states-code/title-12/section-2277a2-definitions--00fd110173.md
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Passage SHA-256: b6341330315b2535a4b776acc4f4f482f21598531171b096176a607ac4e9ccf4
Source location: Title 12, Chapter 23, § 2277a–2; chapter-023-farm-credit-system.md
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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.
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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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2002
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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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2153
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Until Congress shall further provide for the government of the Trust Territory of the Pacific Islands, all executive, legislative, and judicial authority necessary for the civil administration of the Trust Territory shall continue to be vested in such person or persons and shall be exercised in such manner and through such agency or agencies as the President of the United States may direct or authorize.
**(b)** The head of any department, corporation, or other agency of the executive branch of the Government may, upon the request of the Secretary of the Interior, extend to the Trust Territory of the Pacific Islands, with or without reimbursement, scientific, technical, and other assistance under any program administered by such agency, or extend to the Trust Territory any Federal program administered by such agency, if the assistance or program will promote the welfare of the Trust Territory, notwithstanding any provision of law under which the Trust Territory may otherwise be ineligible for the assistance or program: Provided, That the Secretary of the Interior shall not request assistance pursuant to this subsection that involves, in the aggregate, an estimated nonreimbursable cost in any one fiscal year in excess of $150,000: Provided further, That the cost of any program extended to the Trust Territory under this subsection shall be reimbursable out of appropriations authorized and made for the government of the Trust Territory pursuant to section 2 of this Act, as amended. The provisions of this subsection shall not apply to financial assistance under a grant-in-aid program.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 1681
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Federal law — U.S. Code and appendices · legal_authorities
Level III of the Executive Schedule applies to the following positions, for which the annual rate of basic pay shall be the rate determined with respect to such level under chapter 11 of title 2, as adjusted by [section 5318 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section5318&num=0&edition=prelim):
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 5314
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Federal law — U.S. Code and appendices · legal_authorities
Level IV of the Executive Schedule applies to the following positions, for which the annual rate of basic pay shall be the rate determined with respect to such level under chapter 11 of title 2, as adjusted by [section 5318 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section5318&num=0&edition=prelim):
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 5315
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