12 U.S.C. § 2273 — Ancillary provisions; subpena power; etc

Page 1371 TITLE 12—BANKS AND BANKING § 2273 Farm Credit System Insurance Corporation under section 2277a–10 of this title. (Pub. L. 92–181, title V, § 5.35, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701; amended Pub. L. 100–233, title II, §§ 203, 207(d), Jan. 6, 1988, 101 Stat. 1605, 1608; Pub. L. 102–237, title V, § 502(i), Dec. 13, 1991, 105 Stat. 1869; Pub. L. 102–552, title II, § 202(b), Oct. 28, 1992, 106 Stat. 4106; Pub. L. 115–334, title V, §§ 5408, 5411(34), Dec. 20, 2018, 132 Stat. 4678, 4683.) Editorial Notes AMENDMENTS 2018—Pars. (4), (5). Pub. L. 115–334, § 5408, added par. (4) and redesignated former par. (4) as (5). Par. (5)(B), (C). Pub. L. 115–334, § 5411(34), redesignated subpar. (C) as (B), struck out ‘‘after December 31, 1992,’’ before ‘‘mean any’’ and ‘‘by the Farm Credit System Assistance Board under section 2278a–6 of this title or’’ before ‘‘by the Farm Credit System Insurance Corpora- tion’’, and struck out former subpar. (B) which read as follows: ‘‘during the period beginning on January 6, 1988, and ending December 31, 1992, mean any non- compliance by a System institution, as determined by the Farm Credit Administration in consultation with the Assistance Board, with any term or condition im- posed on the institution by the Assistance Board under section 2278a–6 of this title; and’’. 1992—Par. (4)(C). Pub. L. 102–552 added subpar. (C). 1991—Par. (3). Pub. L. 102–237 substituted ‘‘part E’’ for ‘‘part D’’. 1988—Par. (3). Pub. L. 100–233, § 207(d), substituted ‘‘Financial Assistance Corporation’’ for ‘‘Capital Cor- poration’’. Par. (4). Pub. L. 100–233, § 203, amended par. (4) gen- erally. Prior to amendment, par. (4) read as follows: ‘‘the term ‘unsafe or unsound practice’ shall have the meaning given to it by the Farm Credit Administration by regulations, rule, or order.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1991 AMENDMENT Amendment by Pub. L. 102–237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, to which the amendment relates, see section 1101(b)(4) of Pub. L. 102–237, set out as a note under section 1421 of Title 7, Agriculture. EFFECTIVE DATE Section 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. § 2272. Notice of service Any service required or authorized to be made by the Farm Credit Administration under this section may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Farm Credit Administra- tion may by regulation or otherwise provide. Any such service by mail is complete upon mail- ing. Copies of any notice or order served by the Farm Credit Administration on any association or any director or officer thereof or other person participating in the conduct of its affairs, under the provisions of this part, shall also be sent to the supervisory bank. (Pub. L. 92–181, title V, § 5.36, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1702.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section 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. § 2273. Ancillary provisions; subpena power; etc. In the course of or in connection with any pro- ceeding under this part or any examination or investigation under this chapter, the Farm Credit Administration or any designated rep- resentative thereof, including any person des- ignated to conduct any hearing under this part, shall have the power to administer oaths and af- firmations, to take or cause to be taken deposi- tions, and to issue, revoke, quash, or modify subpenas and subpenas duces tecum; and the Farm Credit Administration is empowered to make rules and regulations with respect to any such proceedings, examinations, or investiga- tions. The attendance of witnesses and the pro- duction of documents provided for in this sec- tion may be required from any place in any State or in any territory or other place subject to the jurisdiction of the United States at any designated place where such proceeding is being conducted. The Farm Credit Administration or any party to proceedings under this part may apply to the United States District Court for the District of Columbia, or the United States dis- trict court for the judicial district or the United States court in any territory in which such pro- ceeding is being conducted, or where the witness resides or carries on business, for enforcement of any subpena or subpena duces tecum issued pur- suant to this part, and such courts shall have ju- risdiction and power to order and require com- pliance therewith. Witnesses subpenaed under this section shall be paid the same fees and mileage that are paid witnesses in the district courts of the United States. Any court having jurisdiction of any proceeding instituted under this part by a System institution or a director or officer thereof, may allow to any such party such reasonable expenses and attorneys’ fees as it deems just and proper; and such expenses and fees shall be paid by the System institution or from its assets. Any person who willfully shall fail or refuse to attend or testify or to answer any lawful inquiry or to produce books, papers, correspondence, memoranda, contracts, agree- ments, or other records, if in such person’s power so to do, in obedience to the subpena of the Farm Credit Administration, shall be guilty of a misdemeanor and, upon conviction, shall be subject to a fine of not more than $1,000 or to imprisonment for a term of not more than one year or both. (Pub. L. 92–181, title V, § 5.37, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1702; amended Pub. L. 100–233, title VIII, § 805(ee), Jan. 6, 1988, 101 Stat. 1717.) Editorial Notes AMENDMENTS 1988—Pub. L. 100–233 substituted ‘‘proceedings, exami- nations, or investigations’’ for ‘‘proceedings, claims, examinations, or investigations’’. Page 1372 TITLE 12—BANKS AND BANKING § 2274 Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section 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. § 2274. Power to remove directors and officers Notwithstanding any other provision of this chapter, a Farm Credit Bank board, officer, or employee shall not remove any director or offi- cer of any association. (Pub. L. 92–181, title V, § 5.38, as added Pub. L. 100–233, title IV, § 432(c), Jan. 6, 1988, 101 Stat. 1661; amended Pub. L. 115–334, title V, § 5411(35), Dec. 20, 2018, 132 Stat. 4683.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–334 substituted ‘‘a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any’’ for ‘‘a farm credit district board, bank board, or bank officer or employee shall not remove any director or officer of any production credit association or Federal land bank’’. PART D—MISCELLANEOUS § 2275. Repealed. Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683 Section, Pub. L. 92–181, title V, § 5.44, formerly § 5.30, as added Pub. L. 96–592, title V, § 509, Dec. 24, 1980, 94 Stat. 3450; renumbered § 5.44, Pub. L. 99–205, title II, § 205(a)(2), Dec. 23, 1985, 99 Stat. 1703; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814, related to Government Accountability Office audit, report to Congress, and ac- cess and examination of recorded information by the Comptroller General. See section 2276 of this title. Editorial Notes CODIFICATION Section was formerly classified to section 2260 of this title. § 2275a. Transition rules relating to amendment of certain FCA approval authorities (a) In general Any approvals granted by the Farm Credit Ad- ministration before January 6, 1988, shall remain in effect on and after such date. (b) Authority to issue regulations (1) In general Any approval authority of the Farm Credit Administration that, under the amendments made by section 802 of the Agricultural Credit Act of 1987, became an authority to issue regu- lations may be exercised only until the earlier of the date the Farm Credit Administration issues final regulations under such authority, or 1 year after January 6, 1988. (2) Enforcement actions At the close of the 1-year period referred to in paragraph (1), the Farm Credit Administra- tion shall not take any enforcement action against any System institution with respect to any provision so amended, until the Farm Credit Administration issues final regulations under such provision. (c) Effect of section This section shall not affect the authority of the Farm Credit Administration to exercise any other approval authority either on a case-by- case basis or through regulation, as provided in section 2252(a)(5) of this title. (Pub. L. 92–181, title V, § 5.45, as added Pub. L. 100–233, title VIII, § 802(w), Jan. 6, 1988, 101 Stat. 1713.) Editorial Notes REFERENCES IN TEXT The amendments made by section 802 of the Agricul- tural Credit Act of 1987, referred to in subsec. (b)(1), are the amendments made by section 802 of Pub. L. 100–233, title VIII, Jan. 6, 1988, 101 Stat. 1710, which enacted sec- tion 2275a of this title and amended sections 2011 to 2013, 2017, 2031, 2051, 2052, 2071 to 2073, 2077, 2091, 2121, 2122, 2124, 2126, 2130, 2132, 2212, 2213, 2223, and 2252 of this title. For complete classification of section 802 to the Code, see Tables. § 2276. Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions On and after December 19, 1985, the Comp- troller General or his duly authorized represent- atives shall have access to and the right to ex- amine all books, documents, papers, records, or other recorded information within the posses- sion or control of the Federal land banks and Federal land bank associations, Federal inter- mediate credit banks and production credit as- sociations and banks for cooperatives. (Pub. L. 99–190, § 107, Dec. 19, 1985, 99 Stat. 1316.) Editorial Notes CODIFICATION Section was not enacted as part of the Farm Credit Act of 1971 which comprises this chapter. PART E—FARM CREDIT SYSTEM INSURANCE CORPORATION § 2277a. Definitions As used in this part: (1) Board of Directors The term ‘‘Board of Directors’’ means the Board of Directors of the Corporation. (2) Corporation The term ‘‘Corporation’’ means the Farm Credit System Insurance Corporation estab- lished in section 2277a–1 of this title. (3) Insured obligation The term ‘‘insured obligation’’ means any note, bond, debenture, or other obligation issued under subsection (c) or (d) of section 2153 of this title— (A) on or before January 5, 1989, on behalf of any System bank; and (B) after such date, which, when issued, is issued on behalf of any insured System bank. (4) Insured System bank The term ‘‘insured System bank’’ means any System bank whose participation in notes, bonds, debentures, and other obligations