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12 U.S.C. § 2145 — Credit delivery office
Federal law — U.S. Code and appendices · legal_authorities
On a determination by the board of directors of the consolidated bank that the bank’s loan portfolio is concentrated in any one district or districts (according to the district boundaries in effect immediately prior to the effective date of the establishment of the bank under section 413 of the Agricultural Credit Act of 1987), the bank may consider the creation of regional service centers to accommodate such loan concentrations.
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Source file: Laws/federal/codes/united-states-code/title-12/section-2145-credit-delivery-office--4d32ce9987.md
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Source location: Title 12, Chapter 23, § 2145; chapter-023-farm-credit-system.md
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On a determination by the board of directors of the consolidated bank that the bank’s loan portfolio is concentrated in any one district or districts (according to the district boundaries in effect immediately prior to the effective date of the establishment of the bank under section 413 of the Agricultural Credit Act of 1987), the bank may consider the creation of regional service centers to accommodate such loan concentrations.
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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
Each Federal land bank association shall have a first lien on the stock and participation certificates it issues, except on stock or participation certificates held by other Farm Credit System institutions, for the payment of any liability of the stockholder to the association or to the bank, or to both of them.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2121
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Federal law — U.S. Code and appendices · legal_authorities
Page 1322
TITLE 12—BANKS AND BANKING
§ 2144
may consider the creation of regional service
centers to accommodate such loan concentra-
tions.
(Pub. L. 92–181, title III, § 3.22, as added Pub. L.
100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat.
1643; amended Pub. L. 100–399, title IV, § 407(e),
Aug. 17, 1988, 102 Stat. 1000.)
Editorial Notes
REFERENCES IN TEXT
Section 413 of the Agricultural Credit Act of 1987, re-
ferred to in text, is section 413 of Pub. L. 100–233, which
is set out as a note under section 2121 of this title.
AMENDMENTS
1988—Pub. L. 100–399 substituted ‘‘consolidated bank’’
for ‘‘United Bank for Cooperatives or the National
Bank for Cooperatives’’ and ‘‘establishment of the bank
under section 413 of the Agricultural Credit Act of 1987’’
for ‘‘merger’’.
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.
§ 2144. Consolidation of functions
Subject to section 2143 of this title, to the
greatest extent practicable, the functions of the
consolidated bank shall be consolidated in the
central office of the bank.
(Pub. L. 92–181, title III, § 3.23, as added Pub. L.
100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat.
1644.)
§ 2145. Exchange of ownership interests
On the establishment of the consolidated
bank, ownership interests of the stockholders
and subscribers to the guaranty funds of the
constituent district banks for cooperatives (in-
cluding stock, participation certificates, and al-
located equities) shall be exchanged for like
ownership interests in the consolidated bank o
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2145
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