12-U.S.C.-2127

§2127 – Guaranty Fund Subscriptions In Lieu of Stock

Pathway

Title 12 > Chapter 23 > Subchapter III > Part A > Section 2127

Details

• Reference: Section 2127
• Legend: §2127 – Guaranty Fund Subscriptions In Lieu of Stock
• USCode Year: 2013

Provision Content

If any cooperative association is not authorized under the laws of the State in which it is organized to take and hold stock in a bank for cooperatives, the bank shall, in lieu of any requirement for stock purchase, require the association to pay into or have on deposit in a guaranty fund, or the bank may retain out of the amount of the loan and credit to the guaranty fund account of the borrower, a sum equal to the amount of stock which the association would otherwise be required to own. Each reference to stock of the banks for cooperatives in this chapter shall include such guaranty fund equivalents. The holder of the guaranty fund equivalent and the bank shall each be entitled to the same rights and obligations with respect thereto as the rights and obligations associated with the class or classes of stock involved.

(Pub. L. 92–181, title III, §3.6, Dec. 10, 1971, 85 Stat. 604.)

U.S. Encyclopedia of Law Coverage

12-U.S.C.-2095 in the Legal Encyclopedia: Banking Law

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12-U.S.C.-2122 in the Legal Encyclopedia: Farm Credit System

In this entry about 12-U.S.C.-2122, find legal reference material, bibliographies and premiere content related to farm credit system in the American Encyclopedia of Law, presenting a comprehensive view of the United States farm credit system-specific issues, written by authorities in the field.

Subchapter III – Banks For Cooperatives in the Legal Encyclopedia: Credit Institutions

In this entry about Subchapter III – Banks For Cooperatives, find legal reference material, bibliographies and premiere content related to credit institutions in the American Encyclopedia of Law, presenting a comprehensive view of the United States credit institutions-specific issues, written by authorities in the field.

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