Browse Arkansas Code titles and sections
12 U.S.C. § 2267 — Removal and prohibition authority; industry-wide prohibition
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of person** In this section, the term “person” means—
(1) an individual; and
(2) in the case of a specific determination by the Farm Credit Administration, a legal entity.
**(b) Industry-wide prohibition** Except as provided in subsection (c), any person who, pursuant to an order issued under section 2264 or 2265 of this title, has been removed or suspended from office at a System institution or prohibited from participating in the conduct of the affairs of a System institution shall not, during the period of effectiveness of the order, continue or commence to hold any office in, or participate in any manner in the conduct of the affairs of—
(1) any insured depository institution subject to [section 1818(e)(7)(A)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/i&num=0&edition=prelim);
(2) any institution subject to [section 1818(e)(7)(A)(ii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/ii&num=0&edition=prelim);
(3) any insured credit union under the Federal Credit Union Act ([12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.);
(4) any Federal home loan bank;
(5) any institution chartered under this chapter;
(6) any appropriate Federal financial institutions regulatory agency (as defined in [section 1818(e)(7)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/D&num=0&edition=prelim));
(7) the Federal Housing Finance Agency; or
(8) the Farm Credit Administration.
**(c) Exception for institution-affiliated party that receives written consent**
(1) **In general**
(A) *Affiliated parties* — If, on or af
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2267
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 263547fbfc2081ac2d08c87c514fc177223d4681b8cbe22ce5bf4df2d2c68d28. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_a533a4e6aa9dc962644190eb
Source file: Laws/federal/codes/united-states-code/title-12/section-2267-removal-and-prohibition-authority-industry-wide-prohibition--cbdb2c6c9b.md
Pages: Not recorded – Not recorded
Passage SHA-256: 562af7dddbc9cd0fea7141edf401a6d64c63ef67d4a250d5b796ba04530ece0a
Source location: Title 12, Chapter 23, § 2267; chapter-023-farm-credit-system.md
Stored source content
**(a) Definition of person** In this section, the term “person” means—
(1) an individual; and
(2) in the case of a specific determination by the Farm Credit Administration, a legal entity.
**(b) Industry-wide prohibition** Except as provided in subsection (c), any person who, pursuant to an order issued under section 2264 or 2265 of this title, has been removed or suspended from office at a System institution or prohibited from participating in the conduct of the affairs of a System institution shall not, during the period of effectiveness of the order, continue or commence to hold any office in, or participate in any manner in the conduct of the affairs of—
(1) any insured depository institution subject to [section 1818(e)(7)(A)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/i&num=0&edition=prelim);
(2) any institution subject to [section 1818(e)(7)(A)(ii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/ii&num=0&edition=prelim);
(3) any insured credit union under the Federal Credit Union Act ([12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.);
(4) any Federal home loan bank;
(5) any institution chartered under this chapter;
(6) any appropriate Federal financial institutions regulatory agency (as defined in [section 1818(e)(7)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/D&num=0&edition=prelim));
(7) the Federal Housing Finance Agency; or
(8) the Farm Credit Administration.
**(c) Exception for institution-affiliated party that receives written consent**
(1) **In general**
(A) *Affiliated parties* — If, on or after the date on which an order described in subsection (b) is issued that removes or suspends an institution-affiliated party from office at a System institution or prohibits an institution-affiliated party from participating in the conduct of the affairs of a System institution, that party receives written consent described in subparagraph (B), subsection (b) shall not apply to that party—
(i) to the extent provided in the written consent received; and
(ii) with respect to the institution described in each written consent.
(B) *Written consent described* — The written consent referred to in subparagraph (A) is written consent received from—
(i) the Farm Credit Administration; and
(ii) each appropriate Federal financial institutions regulatory agency (as defined in [section 1818(e)(7)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/D&num=0&edition=prelim)) of the applicable institution described in any of paragraphs (1), (2), (3), or (4) of subsection (b) with respect to which the party proposes to be become 11 So in original. an affiliated party.
(2) **Disclosure** — Any agency described in clause (i) or (ii) of paragraph (1)(B) that provides a written consent under that paragraph shall—
(A) report the action to the Farm Credit Administration; and
(B) publicly disclose the action.
(3) **Consultation between agencies** — The agencies described in clauses (i) and (ii) of paragraph (1)(B) shall consult with each other before providing any written consent under that paragraph.
**(d) Violations** A violation of subsection (b) by any person who is subject to an order described in that subsection shall be treated as violation 22 So in original. Probably should be preceded by “a”. of that order.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
The facility is authorized to act upon the request of the Board of Governors of the Federal Reserve System as an agent of the Federal Reserve System in matters pertaining to credit unions under such terms and conditions as may be established by the Board of Governors of the Federal Reserve System.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1751
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Minimum levels of capital** The Farm Credit Administration shall cause System institutions to achieve and maintain adequate capital by establishing minimum levels of capital for such System institutions and by using such other methods as the Farm Credit Administration deems appropriate. The Farm Credit Administration may establish such minimum level of capital for a System institution as the Farm Credit Administration, in its discretion, deems to be necessary or appropriate in light of the particular circumstances of the System institution.
**(b) Failure to maintain minimum levels; directives; plans for achieving minimum levels; proposals affecting compliance**
(1) Failure of a System institution to maintain capital at or above its minimum level as established under subsection (a) may be deemed by the Farm Credit Administration, in its discretion, to constitute an unsafe and unsound practice within the meaning of this chapter.
(2) In addition to, or in lieu of, any other action authorized by law, including paragraph (1), the Farm Credit Administration may issue a directive to a System institution that fails to maintain capital at or above its required level as established under subsection (a). Such directive may require the System institution to submit and adhere to a plan acceptable to the Farm Credit Administration describing the means and timing by which the System institution shall achieve its required capital level, but may not require merger or consolidation without a majority vote of the voting stockholders or the contributors to the guaranty fund of the institution.
(3) The Farm Credit Administration may consider such System institution’s progress in adhering to any plan required under paragraph (2) whenever such System institution, or an affiliate the
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2155
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Forfeiture and payment; compromise, modification, or remitting by Farm Credit Administration; assessment and collection by written notice** Any institution in the System that violates or any officer, director, employee, agent, or other person participating in the conduct of the affairs of such an institution who violates the terms of any order that has become final and was issued under section 2261 or 2262 of this title, shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues. Any such institution or person who violates any provision of this chapter or any regulation issued under this chapter shall forfeit and pay a civil penalty of not more than $500 per day for each day during which such violation continues. Notwithstanding the preceding sentences, the Farm Credit Administration may, in its discretion, compromise, modify, or remit any civil money penalty that is subject to imposition or has been imposed under such authority. The penalty may be assessed and collected by the Farm Credit Administration by written notice.
**(b) Factors determining amount** Before determining whether to assess a civil money penalty and determining the amount of such penalty, the Farm Credit Administration shall notify the institution or person to be assessed of the violation or violations alleged to have occurred or to be occurring, and shall solicit the views of the institution or person regarding the imposition of such penalty. In determining the amount of the penalty, the Farm Credit Administration shall take into account the appropriateness of the penalty with respect to the size of financial resources and good faith of the System institution or person charged, the gravity of the violation, the history of previous
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2270
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 853
TITLE 12—BANKS AND BANKING
§ 1751
CHAPTER 14—FEDERAL CREDIT UNIONS
Sec.
1751.
Short title.
1751a.
Omitted.
SUBCHAPTER I—GENERAL PROVISIONS
1752.
Definitions.
1752a.
National Credit Union Administration.
1753.
Federal credit union organization.
1754.
Approval of organization certificate.
1755.
Fees.
1756.
Reports and examinations.
1756a.
Omitted.
1757.
Powers.
1757a.
Limitation on member business loans.
1758.
Bylaws.
1759.
Membership.
1760.
Members’ meetings.
1761.
Management.
1761a.
Officers of the board.
1761b.
Board of directors; meetings; powers and du-
ties; executive committee; membership offi-
cers; membership application.
1761c.
Credit committee.
1761d.
Supervisory committee; powers and duties;
suspension of members; passbook.
1762.
Repealed.
1763.
Dividends.
1764.
Expulsion and withdrawal.
1765.
Minors.
1766.
Powers of Board.
1767.
Fiscal agents and depositories; authorization
to secure deposits by governmental bodies.
1768.
Taxation.
1769.
Separability; right to alter, amend, or repeal
chapter.
1770.
Allotment of space in Federal buildings or
Federal land.
1771.
Conversion from Federal to State credit
union and from State to Federal credit
union.
1772.
Territorial application of chapter.
1772a.
Gifts; acceptance of conditional gifts; deposit.
1772b.
Apportionment.
1772c.
Trust fund.
1772c–1.
Community development revolving loan fund
for credit unions.
1772d.
Forfeiture of organization certificate for
money laundering or cash transaction re-
porting offenses.
1772e.
Data standards.
1772f.
Open data publication.
1773.
District of Columbia credit unions; conver-
sion to Federal status.
1774.
Approval of certificate; assets and obligations
of applicant credit union.
1
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1751
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1751. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1368
TITLE 12—BANKS AND BANKING
§ 2267
modify, terminate, or set aside any such order
with permission of the court.
(b) Judicial review; commencement of pro-
ceedings; filing of petition and record; exclu-
sive jurisdiction; finality of judgment and de-
cree
Any party to the proceeding, or any person re-
quired by an order issued under this part to
cease and desist from any of the violations or
practices stated therein, may obtain a review of
any order served under subsection (a) (other
than an order issued with the consent of the
System institution or the director or officer or
other person concerned, or an order issued under
section 2265 of this title) by the filing in the
court of appeals of the United States for the cir-
cuit in which the home office of the institution
is located, or in the United States Court of Ap-
peals for the District of Columbia Circuit, with-
in thirty days after the date of service of such
order, a written petition praying that the order
of the Farm Credit Administration be modified,
terminated, or set aside. A copy of such petition
shall be forthwith transmitted by the clerk of
the court to the Farm Credit Administration,
and thereupon the Farm Credit Administration
shall file in the court the record in the pro-
ceeding, as provided in section 2112 of title 28.
Upon the filing of such petition, such court shall
have jurisdiction, which upon the filing of the
record shall except as provided in the last sen-
tence of subsection (a) be exclusive, to affirm,
modify, terminate, or set aside, in whole or in
part, the order of the Farm Credit Administra-
tion. Review of such proceedings shall be had as
provided in chapter 7 of title 5. The judgment
and decree of the court shall be final, except
that the same shall b
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2267
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.