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12 U.S.C. § 2251 — Administrative expenses

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2251 — Administrative expenses

The Farm Credit Administration may, within the limits of funds available therefor, make necessary expenditures for personnel services and rent at the seat of Government and elsewhere; contract stenographic reporting services; purchase and exchange lawbooks, books of reference, periodicals, newspapers, expenses of attendance at meetings and conferences; purchase, operation, and maintenance at the seat of Government and elsewhere of motor-propelled passenger-carrying vehicles and other vehicles; printing and binding; and for such other facilities and services, including temporary employment by contract or otherwise, as it may from time to time find necessary for the proper administration of this chapter. The Farm Credit Administration may dispose of property so acquired and any amounts collected from the disposition of such property shall be deposited in the special fund provided for in [section 2250(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2250/b&num=0&edition=prelim) and shall be available to the Administration in the same manner and for the same purposes as the funds collected under [section 2250(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2250/a&num=0&edition=prelim).

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Source location: Title 12, Chapter 23, § 2251; chapter-023-farm-credit-system.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2248 — Advisory committees

The Chairman of the Board, subject to the approval of the Board, may establish one or more advisory committees in accordance with chapter 10 of title 5 and may appoint to such committee or committees individuals who are members of the Federal Farm Credit Board when such Board is terminated by the Farm Credit Amendments Act of 1985.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2001 — Repealed. Pub. L. 115–334, title V, § 5411(51), Dec. 20, 2018, 132 Stat. 4685

### 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

12 U.S.C. § 2254 — Powers and duties

**(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

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2251 — Quarters and facilities for the Farm Cred-

Page 1354 TITLE 12—BANKS AND BANKING § 2251 PRIOR PROVISIONS A prior section 5.15 of Pub. L. 92–181 was renumbered section 5.14 and is classified to section 2249 of this title. AMENDMENTS 1992—Subsec. (b)(1). Pub. L. 102–552 inserted ‘‘, for purposes of sequestration,’’ after ‘‘regard’’ and struck out ‘‘or any other law’’ before ‘‘, to pay the expenses’’. 1988—Pub. L. 100–233 amended section generally. Prior to amendment, section read as follows: ‘‘(a) The Farm Credit Administration shall prior to the first day of each fiscal year estimate the cost of ad- ministrative expenses for the ensuing fiscal year in ad- ministering this chapter, including official functions, and shall apportion the amount so determined among the institutions of the System on such equitable basis as the Farm Credit Administration shall determine, and shall assess against and collect in advance the amounts so apportioned from the institutions among which the apportionment is made. ‘‘(b) The amounts collected pursuant to subsection (a) of this section shall be covered into the Treasury, and credited to a special fund and, without regard to other law, shall be available to the Farm Credit Administra- tion for expenditure during each fiscal year for salaries and expenses of the Farm Credit Administration. As soon as practicable after the end of each such fiscal year, the Farm Credit Administration shall determine, on a fair and reasonable basis, the cost of operation of the Farm Credit Administration and the part thereof which fairly and equitably should be allocated to each bank and association as its share of the cost during the fiscal year of the Farm Credit Administration. If the amount so allocated is greater than the amount col- lected from the bank or other institu

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