12-U.S.C.-2212
§2212 – Powers of Farm Credit Administration
Pathway
Title 12 > Chapter 23 > Subchapter IV > Part E > Section 2212
Details
- Reference: Section 2212
- Legend: §2212 – Powers of Farm Credit Administration
- USCode Year: 2013
Provision Content
The Farm Credit Administration shall have power, under rules and regulations prescribed by the Farm Credit Administration, to provide for the organization of any corporation chartered under this part and the territory within which its operations may be carried on, and to approve amendments consistent with this chapter to charters or articles of service corporations.
(Pub. L. 92–181, title IV, §4.26, as added Pub. L. 96–592, title IV, §404, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 99–205, title II, §205(f)(9), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 100–233, title VIII, §802(s), Jan. 6, 1988, 101 Stat. 1712.)
Amendments
1988—Pub. L. 100–233 struck out or by prescribing in the terms of the charter or by approval of the bylaws of the corporation after second reference to Farm Credit Administration, substituted approve amendments consistent with this chapter to charters or articles of service corporations for direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter, and struck out last sentence which read as follows: The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of—
(1) corporate title;
(2) general corporate powers;
(3) eligibility for membership on, and the powers, composition, selection, terms, and compensation of the board of directors;
(4) classes, issuance, value, and retirement of stock;
(5) sources of operating funds;
(6) dissolution, liquidation, and distribution of assets on liquidation; and
(7) application and distribution of earnings.
1985—Pub. L. 99–205 substituted Farm Credit Administration for Governor in heading and wherever appearing in text, and substituted the Federal Credit Administration for he before finds necessary in first sentence.
Effective Date of 1985 Amendment
Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title.
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