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12 U.S.C. § 641, 642 — Repealed. Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624

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

12 U.S.C. § 641, 642 — Repealed. Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624

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Source file: Laws/federal/codes/united-states-code/title-12/section-641-642-12-u-s-c-641-642-repealed-pub-l-92181-title-v-5-26-a-dec-10-1971-85-stat--54c16e8db8.md
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Source location: Title 12, Chapter 7, § 641, 642; chapter-007-farm-credit-administration.md

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### Statutory Notes Section 636, acts May 12, 1933, ch. 25, title II, § 40, 48 Stat. 51; Sept. 6, 1966, Pub. L. 89–554, § 8(a), 80 Stat. 648, provided for organization of Farm Credit Administration. See [section 2247 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2247&num=0&edition=prelim). Section 636a, act Aug. 6, 1953, ch. 335, § 2, 67 Stat. 390, stated Congressional declaration of policy concerning agricultural credit. See [section 2001 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim). Section 636a note, act Aug. 6, 1953, ch. 335, § 1, 67 Stat. 390, provided that such act Aug. 6, 1953, should be known as “Farm Credit Act of 1953”. Section 636b, act Aug. 6, 1953, ch. 335, § 3, 67 Stat. 390, covered the creation of Farm Credit Administration as an independent agency in executive branch. See section 2241 et seq. of this title. Section 636c, acts Aug. 6, 1953, ch. 335, § 4, 67 Stat. 390; Aug. 11, 1955, ch. 785, title IV, § 402, 69 Stat. 666; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387; Aug. 2, 1966, Pub. L. 89–525, § 6, 80 Stat. 335, provided for creation of Federal Farm Credit Board. See section 2242 et seq. of this title. Section 636d, act Aug. 6, 1953, ch. 335, § 5, 67 Stat. 392; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(j), 73 Stat. 387; Oct. 4, 1961, Pub. L. 87–367, title III, § 302(a), 75 Stat. 793, provided for position of Governor of Farm Credit Administration. See section 2244 et seq. of this title. Section 636e, act Aug. 6, 1953, ch. 335, § 6, 67 Stat. 393, covered duties of Federal Farm Credit Board. See [section 2227 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2227&num=0&edition=prelim). Section 636f, acts Aug. 6, 1953, ch. 335, § 7, 67 Stat. 393; Aug. 11, 1955, ch. 785, title I, § 110(c), 69 Stat. 662; Oct. 4, 1961, Pub. L. 87–353, § 3(n), 75 Stat. 774, provided for abolishment of certain offices and funds under program as it existed prior to 1953. Section 636g, acts Aug. 6, 1953, ch. 335, § 8, 67 Stat. 394; July 26, 1956, ch. 741, title I, § 107(a), 70 Stat. 666; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, authorized delegation of powers to institutions in farm credit districts. Section 636h, act Aug. 6, 1953, ch. 335, § 17(b), 67 Stat. 399, covered administrative expenditures of Farm Credit Administration. See [section 2249 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2249&num=0&edition=prelim).

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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. § 2249 — Repealed. Pub. L. 99–205, title II, § 201(2), Dec. 23, 1985, 99 Stat. 1690

### Statutory Notes Section, Pub. L. 92–181, title V, § 5.13, Dec. 10, 1971, 85 Stat. 620, related to authority of Governor of the Farm Credit Administration to fix powers and duties of divisions and instrumentalities of the Administration. #### Effective Date of Repeal Repeal effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under [section 2001 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim).

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

12 U.S.C. § 2247 — Organization of Farm Credit Administration

**(a) Policies of Board** The Chairman of the Farm Credit Administration Board, in carrying out the powers and duties vested in the Chairman by this chapter, and Acts supplementary thereto, shall be governed by policies of the Board and by such regulatory decisions, findings, and determinations as the Board may by law be authorized to make. **(b) Appointments** The Chairman of the Board shall appoint such personnel as may be necessary to carry out the functions of the Farm Credit Administration. The appointment by the Chairman of the heads of major administrative divisions under the Board shall be subject to the approval of the Board. **(c) Personnel** (1) **Appointments by Board members** — Personnel employed regularly and full-time in the immediate offices of Board members shall be appointed by each such Board member. (2) **Officers and employees** (A) *Appointment, compensation, and benefits* — The Chairman shall fix the compensation and number of, and appoint and direct, employees of the Administration. The Chairman may set and adjust the rates of basic pay for employees of the Administration without regard to the provisions of chapter 51, or subchapter III of chapter 53, of title 5. The Chairman may provide such additional compensation and benefits to employees of the Administration as is necessary to maintain comparability with the total amount of compensation and benefits provided by other Federal bank regulatory agencies. In setting and adjusting the total amount of compensation and benefits for employees of the Administration, the Chairman shall consult with, and seek to maintain comparability with, other Federal bank regulatory agencies. (B) *“Other Federal bank regulatory agencies” defined* — For purposes of this subsection, the term “other Federal

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