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12 U.S.C. § 921 — Repealed. Pub. L. 92–181, title V, § 5.26(a),
Federal law — U.S. Code and appendices · legal_authorities
Page 264
TITLE 12—BANKS AND BANKING
§ 921
Section 913, acts July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379; Jan. 23, 1932, ch. 9, § 4, 47 Stat. 13; June 3, 1935,
ch. 164, § 4, 49 Stat. 315, provided for payment of divi-
dends by land bank associations on balance of net earn-
ings. See section 2052 of this title.
Section 914, act July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379; Ex. Ord. No. 6084, Mar. 27, 1933, covered in-
vestment of reserves of land bank associations.
Section 915, act July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379, provided for disposition of reserves on liq-
uidation of land bank associations.
DEFAULTED FARM LOANS
§ 921. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, acts July 17, 1916, ch. 245, title I, § 25, 39 Stat.
380; Mar. 4, 1923, ch. 252, title III, § 310, 42 Stat. 1477;
Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387,
provided for notice to indorsing association in event of
a default on a mortgage held by a land bank and for
making good of such default by association.
EXEMPTION FROM TAXATION
§ 931. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, acts July 17, 1916, ch. 245, title I, § 26, 39 Stat.
380; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat.
387, exempted land banks and land bank associations
from taxation and directed that mortgages and bonds
be deemed instrumentalities of government. See sec-
tion 2055 of this title.
§ 931a. Omitted
Editorial Notes
CODIFICATION
Provisions of this section, act May 28, 1938, ch. 289,
§ 817, 52 Stat. 578, were incorporated as section 3799 of
Title 26 (I.R.C. 1939). See section 76 of Title 26, Internal
Revenue Code.
§§ 932, 933. Repealed. Pub. L. 92–181, title V,
§ 5.
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Page 264
TITLE 12—BANKS AND BANKING
§ 921
Section 913, acts July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379; Jan. 23, 1932, ch. 9, § 4, 47 Stat. 13; June 3, 1935,
ch. 164, § 4, 49 Stat. 315, provided for payment of divi-
dends by land bank associations on balance of net earn-
ings. See section 2052 of this title.
Section 914, act July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379; Ex. Ord. No. 6084, Mar. 27, 1933, covered in-
vestment of reserves of land bank associations.
Section 915, act July 17, 1916, ch. 245, title I, § 24, 39
Stat. 379, provided for disposition of reserves on liq-
uidation of land bank associations.
DEFAULTED FARM LOANS
§ 921. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, acts July 17, 1916, ch. 245, title I, § 25, 39 Stat.
380; Mar. 4, 1923, ch. 252, title III, § 310, 42 Stat. 1477;
Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387,
provided for notice to indorsing association in event of
a default on a mortgage held by a land bank and for
making good of such default by association.
EXEMPTION FROM TAXATION
§ 931. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, acts July 17, 1916, ch. 245, title I, § 26, 39 Stat.
380; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat.
387, exempted land banks and land bank associations
from taxation and directed that mortgages and bonds
be deemed instrumentalities of government. See sec-
tion 2055 of this title.
§ 931a. Omitted
Editorial Notes
CODIFICATION
Provisions of this section, act May 28, 1938, ch. 289,
§ 817, 52 Stat. 578, were incorporated as section 3799 of
Title 26 (I.R.C. 1939). See section 76 of Title 26, Internal
Revenue Code.
§§ 932, 933. Repealed. Pub. L. 92–181, title V,
§ 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 932, act July 17, 1916, ch. 245, title I, § 26, 39
Stat. 380, covered joint-stock land banks and limita-
tions on state taxation of shares thereof.
Section 933, acts July 17, 1916, ch. 245, title I, § 26, 39
Stat. 380; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73
Stat. 387, prohibited a construction of statute which
might serve to render exempt real property of land
banks and land bank associations from state, county,
or municipal taxes.
INVESTMENT IN FARM-LOAN BONDS
§§ 941 to 943. Repealed. Pub. L. 92–181, title V,
§ 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 941, act July 17, 1916, ch. 245, title I, § 27, 39
Stat. 380, directed that farm-loan bonds be deemed law-
ful investments for all fiduciary and trust funds.
Section 942, act July 17, 1916, ch. 245, title I, § 27, 39
Stat. 380, covered buying and selling of farm-loan bonds
by member banks of the Federal reserve system.
Section 943, act July 17, 1916, ch. 245, title I, § 27, 39
Stat. 380, covered additional purchases and sales by
Federal reserve banks.
EXAMINATIONS
§§ 951, 952. Repealed. Pub. L. 92–181, title V,
§ 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 951, acts July 17, 1916, ch. 245, title I, § 28, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 19, 1937,
ch. 704, § 20, 50 Stat. 710, provided for appointment of
farm credit examiners.
Section 952, acts July 17, 1916, ch. 245, title I, § 28, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; June 16, 1933,
ch. 98, title VIII, § 80(a), 48 Stat. 273; Aug. 19, 1937, ch.
704, § 20, 50 Stat. 710; July 12, 1943, ch. 215, 57 Stat. 424;
Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387,
covered requirements, responsibilities, and penalties
applicable to examiners, and made provision for exami-
nations and reports.
§ 953. Repealed. Pub. L. 89–554, § 8(a), Sept. 6,
1966, 80 Stat. 643
Section, act July 17, 1916, ch. 245, title I, § 28, 39 Stat.
381, related to salaries of Farm credit examiners.
RECEIVERS AND CONSERVATORS
§§ 961 to 963. Repealed. Pub. L. 92–181, title V,
§ 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 961, acts July 17, 1916, ch. 245, title I, § 29, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 19, 1937,
ch. 704, § 5(a), 50 Stat. 704; Aug. 18, 1959, Pub. L. 86–168,
title I, § 104(h), 73 Stat. 387, covered institution and con-
duct of receiverships for land bank associations and du-
ties and powers of receivers.
Section 962, act July 17, 1916, ch. 245, title I, § 29, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933, covered the
disposition of moneys collected by receivers and re-
ports to be made thereon.
Section 963, acts July 17, 1916, ch. 245, title I, § 29, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959,
Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, provided for
institution and conduct of receiverships for federal and
joint-stock land banks.
§ 963a. Repealed. June 30, 1947, ch. 166, title II,
§ 206(c), 61 Stat. 208
Section, act May 12, 1933, ch. 25, § 27, 48 Stat. 45, re-
lated to authorization of receiver to borrow money for
paying taxes on real estate.
§§ 964 to 966. Repealed. Pub. L. 92–181, title V,
§ 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 964, acts July 17, 1916, ch. 245, title I, § 29, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; July 16, 1933,
ch. 98, title VIII, § 80(a), 48 Stat. 273; Aug. 18, 1959, Pub.
L. 86–168, title I, § 104(h), 73 Stat. 387, provided for dis-
position of land bank association’s stock in land bank
on declaration of insolvency and appointment of re-
ceiver for association.
Section 965, acts July 17, 1916, ch. 245, title I, § 29, 39
Stat. 381; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959,
Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, required
written consent from Farm Credit Administration for a
land bank, land bank association, or joint stock land
bank to go into voluntary liquidation.
Section 966, act July 17, 1916, ch. 245, title I, § 29 (par.),
as added Mar. 4, 1923, ch. 252, title III, § 311, 42 Stat.
1748, and amended Aug. 18, 1959, Pub. L. 86–168, title I,
§ 104(h), 73 Stat. 387, provided for disposition of a land
bank association’s stock in land bank on voluntary liq-
uidation of an association and for personal liability of
members.
DISSOLUTION AND APPOINTMENT OF RECEIVERS
§ 967. Repealed. Pub. L. 92–181, title V, § 5.26(a),
Dec. 10, 1971, 85 Stat. 624
Section, act July 17, 1916, ch. 245, title I, § 29 (pars.),
as added Aug. 19, 1937, ch. 704, § 25(d), 50 Stat. 713;
amended Aug. 18, 1959, Pub. L. 86–168, title I, § 104(e),
(h), 73 Stat. 386, 387, provided for a conservator in lieu
of a receiver for land bank associations which have
failed to meet their outstanding obligations.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 861, acts July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Apr. 20, 1920, ch. 154, § 5, 41 Stat. 571; Mar. 4, 1921, ch. 151, 41 Stat. 1362; Aug. 13, 1921, ch. 63, 42 Stat. 159; Ex. Ord. No. 6084, Mar. 27, 1933; June 30, 1945, ch. 204, § 9, 59 Stat. 268; Aug. 18, 1958, Pub. L. 86–168, title I, § 104(b), 73 Stat. 386, authorized issuance of farm loan bonds in amount, denominations, and terms as Farm Credit Administration authorized. See [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim).
Section 862, act July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Ex. Ord. No. 6084, Mar. 27, 1933, directed the Farm Credit Administration to prescribe rules and regulations concerning circumstances and manner in which farm loan bonds shall be paid and retired. See [section 2153 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2153&num=0&edition=prelim).
Section 863, act July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377, directed that farm loan bonds be delivered through registrar of the district to bank applying for them.
Section 864, acts July 17, 1916, ch. 245, title I, § 20, 39 Stat. 377; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(b), 73 Stat. 386, covered preparation of bonds, custody of plates and dies, exchange for registered bonds, and reexchange for coupons.
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