12-U.S.C.-2278B-11

§2278B-11 – §2278B-11. Termination

Pathway

Title 12 > Chapter 23 > Subchapter VI > Part B > Section 2278b-11

Details

• Reference: Section 2278b-11
• Legend: §2278B-11 – §2278B-11. Termination
• USCode Year: 2013

Provision Content

(a) Financial Assistance Corporation

The Financial Assistance Corporation and the authority provided to such Corporation by this part shall terminate on the complete discharge by the Financial Assistance Corporation of its responsibilities under section 2278a–9(e) of this title and subsections (c) through (g) of section 2278b–6 of this title with regard to repayments by System institutions, but in no event later than 2 years following the maturity and full payment of all debt obligations issued under section 2278b–6(a) of this title.

(b) Accounts

Simultaneously with the termination of the Financial Assistance Corporation as provided in subsection (a) of this section, any funds in the accounts established under section 2278b–5 of this title shall be transferred to the Insurance Fund established under section 2277a–9 of this title.

(Pub. L. 92–181, title VI, §6.31, as added Pub. L. 100–233, title II, §201, Jan. 6, 1988, 101 Stat. 1605; amended Pub. L. 102–552, title III, §307(b), Oct. 28, 1992, 106 Stat. 4116.)

Amendments

1992—Subsec. (a). Pub. L. 102–552 substituted terminate on the complete discharge by the Financial Assistance Corporation of its responsibilities under section 2278a–9(e) of this title and subsections (c) through (g) of section 2278b–6 of this title with regard to repayments by System institutions, but in no event later than 2 years following for terminate on.

U.S. Encyclopedia of Law Coverage

Part A – Assistance Board in the Legal Encyclopedia: Banking Law

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12-U.S.C.-2278A-2 in the Legal Encyclopedia: Farm Credit System

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