12-U.S.C.-2219B
§2219B – Application of Uninsured Accounts
Pathway
Title 12 > Chapter 23 > Subchapter IV > Part G > Section 2219b
Details
- Reference: Section 2219b
- Legend: §2219B – Application of Uninsured Accounts
- USCode Year: 2013
Provision Content
(a) In general
Money of a borrower held by a Farm Credit System institution in an uninsured voluntary or involuntary account as authorized under regulations issued by the Farm Credit Administration (as in effect immediately before January 6, 1988), including all such other accounts known as advanced payment accounts or future prepayment accounts shall, in the event the institution is placed in liquidation, be immediately applied as payment against the indebtedness of any outstanding loans of such borrower.
(b) Regulations
The Farm Credit Administration shall promulgate regulations—
(1) that define the term uninsured voluntary or involuntary account; and
(2) to otherwise effectively carry out this section.
(Pub. L. 92–181, title IV, §4.37, as added Pub. L. 100–233, title I, §110, Jan. 6, 1988, 101 Stat. 1585.)
Codification
Another section 4.37 of Pub. L. 92–181 was renumbered section 4.38 and is classified to section 2219c of this title.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-2214 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-2214, 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.-2219B in the Legal Encyclopedia: Farm Credit System
In this entry about 12-U.S.C.-2219B, 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.
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