12-U.S.C.-2141

§2141 – Charter, Powers, and Operation

Pathway

Title 12 > Chapter 23 > Subchapter III > Part B > Section 2141

Details

• Reference: Section 2141
• Legend: §2141 – Charter, Powers, and Operation
• USCode Year: 2013

Provision Content

(a) Charter

The National Bank for Cooperatives or the United Bank for Cooperatives, as the case may be (hereinafter in this part referred to as the consolidated bank), established under section 413 of the Agricultural Credit Act of 1987, shall be a federally chartered instrumentality of the United States and an institution of the Farm Credit System.

(b) Powers

The consolidated bank and the board of directors of such bank shall have all of the powers, rights, responsibilities, and obligations of the district banks for cooperatives and the Central Bank for Cooperatives and the boards of directors of such banks, except as otherwise provided for in this chapter.

(c) Operation

The consolidated bank shall be organized and operated on a cooperative basis.

(Pub. L. 92–181, title III, §3.20, as added Pub. L. 100–233, title IV, §415(2), Jan. 6, 1988, 101 Stat. 1642; amended Pub. L. 100–399, title IV, §407(a), (b), Aug. 17, 1988, 102 Stat. 1000.)

References in Text

Section 413 of the Agricultural Credit Act of 1987, referred to in subsec. (a), is section 413 of Pub. L. 100–233, as amended, which is set out as a note under section 2121 of this title.

Amendments

1988—Subsec. (a). Pub. L. 100–399, §407(a), struck out in this section after referred to and inserted , established under section 413 of the Agricultural Credit Act of 1987, before shall.

Subsec. (b). Pub. L. 100–399, §407(b), inserted except before as otherwise.

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.

U.S. Encyclopedia of Law Coverage

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

In this entry about 12-U.S.C.-2095, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

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.

Topic Map

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