Browse Arkansas Code titles and sections

26 U.S.C. § 139L — Interest on loans secured by rural or agricultural real property

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

26 U.S.C. § 139L — Interest on loans secured by rural or agricultural real property

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 139L

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: 961135fffc0cc4dc92d5b9b2a88339b6be4ff41326015f21bdf4dbb124ee0e13. 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_ed8ca7225130f64c3cbe6b25
Source file: Laws/federal/codes/united-states-code/title-26/section-139l-interest-on-loans-secured-by-rural-or-agricultural-real-property--88087339bf.md
Pages: Not recorded – Not recorded
Passage SHA-256: 5840d32acfd8147145150dba63f69ce77467aa68f50db2af78d370de50115b53

Source location: Title 26, Chapter 1, § 139L; chapter-001-normal-taxes-and-surtaxes.md

Stored source content

**(a) In general** Gross income shall not include 25 percent of the interest received by a qualified lender on any qualified real estate loan. **(b) Qualified lender** For purposes of this section, the term “qualified lender” means— (1) any bank or savings association the deposits of which are insured under the 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.), (2) any State- or federally-regulated insurance company, (3) any entity wholly owned, directly or indirectly, by a company that is treated as a bank holding company for purposes of section 8 of the International Banking Act of 1978 ([12 U.S.C. 3106](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3106&num=0&edition=prelim)) if— (A) such entity is organized, incorporated, or established under the laws of the United States or any State, and (B) the principal place of business of such entity is in the United States (including any territory of the United States), (4) any entity wholly owned, directly or indirectly, by a company that is considered an insurance holding company under the laws of any State if such entity satisfies the requirements described in subparagraphs (A) and (B) of paragraph (3), and (5) with respect to interest received on a qualified real estate loan secured by real estate described in subsection (c)(3)(A), any federally chartered instrumentality of the United States established under section 8.1(a) of the Farm Credit Act of 1971 ([12 U.S.C. 2279aa–1(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2279aa–1/a&num=0&edition=prelim)). **(c) Qualified real estate loan** For purposes of this section— (1) **In general** — The term “qualified real estate loan” means any loan— (A) secured by— (i) rural or agricultural real estate, or (ii) a leasehold mortgage (with a status as a lien) on rural or agricultural real estate, (B) made to a person other than a specified foreign entity (as defined in section 7701(a)(51)), and (C) made after the date of the enactment of this section. For purposes of the preceding sentence, the determination of whether property securing such loan is rural or agricultural real estate shall be made as of the time the interest income on such loan is accrued. (2) **Refinancings** — For purposes of subparagraphs (A) and (C) of paragraph (1), a loan shall not be treated as made after the date of the enactment of this section to the extent that the proceeds of such loan are used to refinance a loan which was made on or before the date of the enactment of this section (or, in the case of any series of refinancings, the original loan was made on or before such date). (3) **Rural or agricultural real estate** — The term “rural or agricultural real estate” means— (A) any real property which is substantially used for the production of one or more agricultural products, (B) any real property which is substantially used in the trade or business of fishing or seafood processing, and (C) any aquaculture facility. Such term shall not include any property which is not located in a State or a possession of the United States. (4) **Aquaculture facility** — The term “aquaculture facility” means any land, structure, or other appurtenance that is used for aquaculture (including any hatchery, rearing pond, raceway, pen, or incubator). **(d) Coordination with section 265** In the case of any qualified real estate loan, section 265 shall be applied— (1) by treating any qualified real estate loan for purposes of subsection (a)(2) thereof as an obligation the interest on which is wholly exempt from the taxes imposed by this subtitle, (2) by substituting “25 percent of the interest on indebtedness” for “Interest on indebtedness” in such subsection (a)(2), (3) by treating 25 percent of the adjusted basis of any qualified real estate loan as adjusted basis of a tax-exempt obligation described in subsection (b)(4)(B) thereof, and (4) by substituting “25 percent of the amount of such indebtedness” for “the amount of such indebtedness” in subsection (b)(6)(A)(a)(ii) 11 So in original. Probably should be “(b)(6)(A)(ii)”. thereof.

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

12 U.S.C. § 3106 — Nonbanking activities of foreign banks

**(a) Applicability of Bank Holding Company Acts** Except as otherwise provided in this section (1) any foreign bank that maintains a branch or agency in a State, (2) any foreign bank or foreign company controlling a foreign bank that controls a commercial lending company organized under State law, and (3) any company of which any foreign bank or company referred to in (1) and (2) is a subsidiary shall be subject to the provisions of the Bank Holding Company Act of 1956 [[12 U.S.C. 1841](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim) et seq.], and to [section 1850 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1850&num=0&edition=prelim) and chapter 22 of this title in the same manner and to the same extent that bank holding companies are subject to such provisions. **(b) Ownership or control of shares of nonbanking companies for certain period** Until December 31, 1985, a foreign bank or other company to which subsection (a) applies on September 17, 1978, may retain direct or indirect ownership or control of any voting shares of any nonbanking company in the United States that it owned, controlled, or held with power to vote on September 17, 1978, or engage in any nonbanking activities in the United States in which it was engaged on such date. **(c) Engagement in nonbanking activities after certain period** (1) After December 31, 1985, a foreign bank or other company to which subsection (a) applies on September 17, 1978, or on the date of the establishment of a branch in a State an application for which was filed on or before July 26, 1978, may continue to engage in nonbanking activities in the United States in which directly or through an affiliate it was lawfully eng

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3106

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

12 U.S.C. § 1811 — Federal Deposit Insurance Corporation

**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted. **(b) Asset disposition division** (1) **Establishment** — The Corporation shall have a separate division of asset disposition. (2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors. (3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811

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

12 U.S.C. § 1811 — Federal Deposit Insurance Corporation

Page 957 TITLE 12—BANKS AND BANKING § 1811 Sec. 1831v. Authority of State insurance regulator and Securities and Exchange Commission. 1831w. Safety and soundness firewalls applicable to financial subsidiaries of banks. 1831x. Insurance customer protections. 1831y. CRA sunshine requirements. 1831z. Bi-annual FDIC survey and report on encour- aging use of depository institutions by the unbanked. 1831aa. Enforcement of agreements. 1831bb. Capital requirements for certain acquisition, development, or construction loans. 1831cc. Data standards. 1831dd. Open data publication. 1832. Withdrawals by negotiable or transferable in- struments for transfers to third parties. 1833. Repealed. 1833a. Civil penalties. 1833b. Comparability in compensation schedules. 1833c. Comptroller General audit and access to records. 1833d. Repealed. 1833e. Equal opportunity. 1834. Reduced assessment rate for deposits attrib- utable to lifeline accounts. 1834a. Assessment credits for qualifying activities relating to distressed communities. 1834b. Community development organizations. 1835. Insured depository institution capital re- quirements for transfers of small business obligations. 1835a. Prohibition against deposit production of- fices. § 1811. Federal Deposit Insurance Corporation (a) Establishment of Corporation There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the ‘‘Corporation’’) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted. (b) Asset disposition division (1) Establishment The Corporation shall have a separate divi- s

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1811

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1811. This identifies an authority to review, not proof of applicability.

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

12 U.S.C. § 2279aa — Supervisory actions applicable to level III

**(a) Mandatory supervisory actions** (1) **Capital restoration plan** — If the Corporation is classified as within level III, the Corporation shall, within the time period determined by the Director, submit to the Director a capital restoration plan and, after approval, carry out the plan. (2) **Restrictions on dividends** (A) *Prior approval* — If the Corporation is classified as within level III, the Corporation— (i) may not make any payment of dividends that would result in the Corporation being reclassified as within level IV; and (ii) may make any other payment of dividends only if the Director approves the payment before the payment. (B) *Standard for approval* — If the Corporation is classified as within level III, the Director may approve a payment of dividends by the Corporation only if the Director determines that the payment (i) will enhance the ability of the Corporation to meet the risk-based capital level and the minimum capital level promptly, (ii) will contribute to the long-term safety and soundness of the Corporation, or (iii) is otherwise in the public interest. (3) **Reclassification from level III to level IV** — The Director shall immediately reclassify the Corporation as within level IV if— (A) the Corporation is classified as within level III; and (B) (i) the Corporation does not submit a capital restoration plan that is approved by the Director; or (ii) the Director determines that the Corporation has failed to make, in good faith, reasonable efforts necessary to comply with such a capital restoration plan and fulfill the schedule for the plan approved by the Director. **(b) Discretionary supervisory actions** In addition to any other actions taken by the Director (including actions under subsection (a)), the

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2279aa

Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 2279aa. This identifies an authority to review, not proof of applicability.

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

12 U.S.C. § 2279aa — Definitions

Page 1413 TITLE 12—BANKS AND BANKING § 2279aa the Farm Credit Administration, provide for a different number of directors to be selected in a different manner, except that the bylaws shall provide for at least one outside director. (Pub. L. 92–181, title VII, § 7.12, as added Pub. L. 100–233, title IV, § 416, Jan. 6, 1988, 101 Stat. 1652; amended Pub. L. 100–399, title IV, § 408(q), (r), Aug. 17, 1988, 102 Stat. 1002, 1003.) Editorial Notes AMENDMENTS 1988—Subsec. (b). Pub. L. 100–399, § 408(q), substituted ‘‘Powers and capitalization’’ for ‘‘Procedures’’ in head- ing and, in amending text generally, substituted ‘‘Sec- tions 2279a–2 and 2279a–3 of this title’’ for ‘‘The provi- sions of sections 2279a–2 through 2279a–4 of this title’’. Subsec. (c)(2)(B). Pub. L. 100–399, § 408(r), substituted ‘‘directors’’ for ‘‘members’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title. § 2279f–1. Merger of similar associations (a) In general Associations may voluntarily merge with other like associations if the plan of merger is approved by— (1) the Farm Credit Administration Board; (2) the respective Boards of Directors of the associations involved; (3) a majority vote of the stockholders of each association voting, in person or by proxy, at a duly authorized stockholders’ meeting; and (4) the Farm Credit Banks involved. (b) Procedures The provisions of subsections (b) and (c) of sec- tion 2279c–1 of this title shall apply to associa- tions merged under this section. (Pub. L. 92–181, title VII, § 7.13, as

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2279aa

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 2279aa. This identifies an authority to review, not proof of applicability.

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

12 U.S.C. § 3106 — Nonbanking activities of foreign banks

Page 1505 TITLE 12—BANKS AND BANKING § 3106 national Banking Act of 1978 [12 U.S.C. 3105(c)(1)(D)] shall not apply with respect to any examination under section 7(c)(1)(A) of such Act which begins before or during the 3-year period beginning on July 25, 1994.’’ § 3106. Nonbanking activities of foreign banks (a) Applicability of Bank Holding Company Acts Except as otherwise provided in this section (1) any foreign bank that maintains a branch or agency in a State, (2) any foreign bank or for- eign company controlling a foreign bank that controls a commercial lending company orga- nized under State law, and (3) any company of which any foreign bank or company referred to in (1) and (2) is a subsidiary shall be subject to the provisions of the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.], and to section 1850 of this title and chapter 22 of this title in the same manner and to the same extent that bank holding companies are subject to such pro- visions. (b) Ownership or control of shares of non- banking companies for certain period Until December 31, 1985, a foreign bank or other company to which subsection (a) applies on September 17, 1978, may retain direct or indi- rect ownership or control of any voting shares of any nonbanking company in the United States that it owned, controlled, or held with power to vote on September 17, 1978, or engage in any nonbanking activities in the United States in which it was engaged on such date. (c) Engagement in nonbanking activities after certain period (1) After December 31, 1985, a foreign bank or other company to which subsection (a) applies on September 17, 1978, or on the date of the es- tablishment of a branch in a State an applica- tion for which was filed on or before July 26, 1978, ma

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 3106

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 3106. This identifies an authority to review, not proof of applicability.