dreamproit/uscode huggingface dataset:
12 U.S.C. § 2257 (BANKS AND BANKING)
§ 2257. Reports on conditions of institutions receiving loans or deposits
The executive departments, boards, commissions, and independent establishments of the Government of the United States, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Reserve banks are severally authorized under such conditions as they may prescribe, upon request of the Farm Credit Administration, to make available to it or to any institution of the System in confidence all reports, records, or other information relating to the condition of any organization to which such institution of the System has made or contemplates making loan or for which it has or contemplates discounting paper, or which it is using or contemplates using as a custodian of securities or other credit instruments, or a depository. The Federal Reserve banks in their capacity as depositories, agents, and custodians for bonds, debentures, and other obligations issued by the banks of the System or book entries thereof are also authorized and directed, upon request of the Farm Credit Administration, to make available for audit by farm credit examiners all appropriate books, accounts, financial records, files, and other papers.
(Pub. L. 92–181, title V, § 5.22, formerly § 5.23, Dec. 10, 1971, 85 Stat. 624; renumbered § 5.22, Pub. L. 99–205, title II, § 203(b), Dec. 23, 1985, 99 Stat. 1694.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 5.22 of Pub. L. 92–181 was renumbered section 5.21 and is classified to section 2256 of this title.
12 U.S.C. § 2258 (BANKS AND BANKING)
§ 2258. Jurisdiction
Each institution of the System shall for the purposes of jurisdiction be deemed to be a citizen of the State, commonwealth, or District of Columbia in which its principal office is located.
(Pub. L. 92–181, title V, § 5.23, formerly § 5.24, Dec. 10, 1971, 85 Stat. 624; Pub. L. 94–184, § 1(b), Dec. 31, 1975, 89 Stat. 1060; renumbered § 5.23, Pub. L. 99–205, title II, § 203(b), Dec. 23, 1985, 99 Stat. 1694.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 5.23 of Pub. L. 92–181 was renumbered section 5.22 and is classified to section 2257 of this title.
heading: Amendments
text: 1975—Pub. L. 94–184 struck out provisions prohibiting district court jurisdiction on the basis of incorporation under this Act or prior Federal law, and prohibiting jurisdiction except in cases by or against the United States or one of its officers, or against a person over whom State courts have no jurisdiction and except in cases by or against a receiver or conservator appointed under this chapter.
12 U.S.C. § 2259 (BANKS AND BANKING)
§ 2259. State legislation
Whenever it is determined by the Farm Credit Administration, or by judicial decision, that a State law is applicable to the obligations and securities authorized to be held by the institutions of the System under this chapter, which law would provide insufficient protection or inadequate safeguards against loss in the event of default, the Farm Credit Administration may declare such obligations or securities to be ineligible as collateral for the issuance of new notes, bonds, debentures, and other obligations under this chapter.
(Pub. L. 92–181, title V, § 5.24, formerly § 5.25, Dec. 10, 1971, 85 Stat. 624; renumbered § 5.24, Pub. L. 99–205, title II, § 203(b), Dec. 23, 1985, 99 Stat. 1694.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 5.24 of Pub. L. 92–181 was renumbered section 5.23 and is classified to section 2258 of this title.
12 U.S.C. § 2260 (BANKS AND BANKING)
§ 2260. Transferred
heading: Editorial Notes
heading: Codification
text: Section, Pub. L. 92–181, title V, § 5.30, as added Pub. L. 96–592, title V, § 509, Dec. 24, 1980, 94 Stat. 3450, which related to audit and report to Congress by the Comptroller General, was renumbered section 5.44 of Pub. L. 92–181 by Pub. L. 99–205, title II, § 205(a)(2), Dec. 23, 1985, 99 Stat. 1703, transferred to section 2275 of this title, and repealed by Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683.
12 U.S.C. § 2263 (BANKS AND BANKING)
§ 2263. Enforcement of temporary cease and desist orders
In the case of violation or threatened violation of, or failure to obey, a temporary cease and desist order issued under section 2262 of this title, the Farm Credit Administration may apply to the United States district court, or the United States court of any territory, within the jurisdiction of which the home office of the institution is located, for an injunction to enforce such order, and, if the court shall determine that there has been such violation or threatened violation or failure to obey, it shall be the duty of the court to issue such injunction.
(Pub. L. 92–181, title V, § 5.27, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1696.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 5.27 of Pub. L. 92–181, which amended section 393 of this title and sections 5314 and 5315 of Title 5, Government Organization and Employees, was renumbered section 5.41.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2267 (BANKS AND BANKING)
§ 2267. Jurisdiction and enforcement
The Farm Credit Administration may in its discretion apply to the United States district court, or the United States court of any territory, within the jurisdiction of which the home office of the institution is located, for the enforcement of any effective and outstanding notice or order issued under this part, and such courts shall have jurisdiction and power to order and require compliance herewith; but except as otherwise provided in this part no court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any notice or order under this part, or to review, modify, suspend, terminate, or set aside any such notice or order. For purposes of this section, any directive issued under section 2154(b)(2), 2154a(e), or 2202a(h) of this title shall be treated as an effective and outstanding order issued under section 2261 of this title that has become final.
(Pub. L. 92–181, title V, § 5.31, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1700; amended Pub. L. 100–233, title VIII, § 804(a)(1), Jan. 6, 1988, 101 Stat. 1714; Pub. L. 115–334, title V, § 5411(32), Dec. 20, 2018, 132 Stat. 4683.)
heading: Editorial Notes
heading: Amendments
text: 2018—Pub. L. 115–334 substituted “2202a(h)” for “2202a(i)”.
1988—Pub. L. 100–233 inserted at end “For purposes of this section, any directive issued under section 2154(b)(2), 2154a(e), or 2202a(i) of this title shall be treated as an effective and outstanding order issued under section 2261 of this title that has become final.”
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2269 (BANKS AND BANKING)
§ 2269. Further penalties
Any director or officer, or former director or officer of a System institution, or any other person, against whom there is outstanding and effective any notice or order (which is an order which has become final) served upon such director, officer, or other person under section 2264 or 2265 of this title, and who (1) participates in any manner in the conduct of the affairs of the institution involved, or directly or indirectly solicits or procures, or transfers or attempts to transfer, or votes or attempts to vote, any proxies, consents, or authorizations in respect of any voting rights in such institution, or (2) without the prior written approval of the Farm Credit Administration, votes for a director, serves or acts as a director, officer, or employee of any System institution, shall upon conviction be fined not more than $5,000 or imprisoned for not more than one year, or both.
(Pub. L. 92–181, title V, § 5.33, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2270 (BANKS AND BANKING)
§ 2270. Replacement of suspended or removed directors
If at any time, because of the suspension or removal of one or more directors pursuant to section 2264 or 2265 of this title, there shall be on the board of directors of a System institution less than a quorum of directors not so suspended, the Chairman shall appoint persons to serve temporarily as directors in their place and stead so as to establish a quorum until such time as those who have been removed are reinstated or their respective successors are duly elected and take office.
(Pub. L. 92–181, title V, § 5.34, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1701.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2272 (BANKS AND BANKING)
§ 2272. Notice of service
Any service required or authorized to be made by the Farm Credit Administration under this section may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Farm Credit Administration may by regulation or otherwise provide. Any such service by mail is complete upon mailing. Copies of any notice or order served by the Farm Credit Administration on any association or any director or officer thereof or other person participating in the conduct of its affairs, under the provisions of this part, shall also be sent to the supervisory bank.
(Pub. L. 92–181, title V, § 5.36, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1702.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2273 (BANKS AND BANKING)
§ 2273. Ancillary provisions; subpena power; etc.
In the course of or in connection with any proceeding under this part or any examination or investigation under this chapter, the Farm Credit Administration or any designated representative thereof, including any person designated to conduct any hearing under this part, shall have the power to administer oaths and affirmations, to take or cause to be taken depositions, and to issue, revoke, quash, or modify subpenas and subpenas duces tecum; and the Farm Credit Administration is empowered to make rules and regulations with respect to any such proceedings, examinations, or investigations. The attendance of witnesses and the production of documents provided for in this section may be required from any place in any State or in any territory or other place subject to the jurisdiction of the United States at any designated place where such proceeding is being conducted. The Farm Credit Administration or any party to proceedings under this part may apply to the United States District Court for the District of Columbia, or the United States district court for the judicial district or the United States court in any territory in which such proceeding is being conducted, or where the witness resides or carries on business, for enforcement of any subpena or subpena duces tecum issued pursuant to this part, and such courts shall have jurisdiction and power to order and require compliance therewith. Witnesses subpenaed under this section shall be paid the same fees and mileage that are paid witnesses in the district courts of the United States. Any court having jurisdiction of any proceeding instituted under this part by a System institution or a director or officer thereof, may allow to any such party such reasonable expenses and attorneys’ fees as it deems just and proper; and such expenses and fees shall be paid by the System institution or from its assets. Any person who willfully shall fail or refuse to attend or testify or to answer any lawful inquiry or to produce books, papers, correspondence, memoranda, contracts, agreements, or other records, if in such person’s power so to do, in obedience to the subpena of the Farm Credit Administration, shall be guilty of a misdemeanor and, upon conviction, shall be subject to a fine of not more than $1,000 or to imprisonment for a term of not more than one year or both.
(Pub. L. 92–181, title V, § 5.37, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1702; amended Pub. L. 100–233, title VIII, § 805(ee), Jan. 6, 1988, 101 Stat. 1717.)
heading: Editorial Notes
heading: Amendments
text: 1988—Pub. L. 100–233 substituted “proceedings, examinations, or investigations” for “proceedings, claims, examinations, or investigations”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an Effective Date of 1985 Amendment note under section 2001 of this title.
12 U.S.C. § 2274 (BANKS AND BANKING)
§ 2274. Power to remove directors and officers
Notwithstanding any other provision of this chapter, a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any association.
(Pub. L. 92–181, title V, § 5.38, as added Pub. L. 100–233, title IV, § 432(c), Jan. 6, 1988, 101 Stat. 1661; amended Pub. L. 115–334, title V, § 5411(35), Dec. 20, 2018, 132 Stat. 4683.)
heading: Editorial Notes
heading: Amendments
text: 2018—Pub. L. 115–334 substituted “a Farm Credit Bank board, officer, or employee shall not remove any director or officer of any” for “a farm credit district board, bank board, or bank officer or employee shall not remove any director or officer of any production credit association or Federal land bank”.
12 U.S.C. § 2275 (BANKS AND BANKING)
§ 2275. Repealed. Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683
text: Section, Pub. L. 92–181, title V, § 5.44, formerly § 5.30, as added Pub. L. 96–592, title V, § 509, Dec. 24, 1980, 94 Stat. 3450; renumbered § 5.44, Pub. L. 99–205, title II, § 205(a)(2), Dec. 23, 1985, 99 Stat. 1703; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814, related to Government Accountability Office audit, report to Congress, and access and examination of recorded information by the Comptroller General. See section 2276 of this title.
heading: Editorial Notes
heading: Codification
text: Section was formerly classified to section 2260 of this title.
12 U.S.C. § 2275a (BANKS AND BANKING)
§ 2275a. Transition rules relating to amendment of certain FCA approval authorities
(a) In general
Any approvals granted by the Farm Credit Administration before January 6, 1988, shall remain in effect on and after such date.
(b) Authority to issue regulations
(1) In general
Any approval authority of the Farm Credit Administration that, under the amendments made by section 802 of the Agricultural Credit Act of 1987, became an authority to issue regulations may be exercised only until the earlier of the date the Farm Credit Administration issues final regulations under such authority, or 1 year after January 6, 1988.
(2) Enforcement actions
At the close of the 1-year period referred to in paragraph (1), the Farm Credit Administration shall not take any enforcement action against any System institution with respect to any provision so amended, until the Farm Credit Administration issues final regulations under such provision.
(c) Effect of section
This section shall not affect the authority of the Farm Credit Administration to exercise any other approval authority either on a case-by-case basis or through regulation, as provided in section 2252(a)(5) of this title.
(Pub. L. 92–181, title V, § 5.45, as added Pub. L. 100–233, title VIII, § 802(w), Jan. 6, 1988, 101 Stat. 1713.)
heading: Editorial Notes
heading: References in Text
text: The amendments made by section 802 of the Agricultural Credit Act of 1987, referred to in subsec. (b)(1), are the amendments made by section 802 of Pub. L. 100–233, title VIII, Jan. 6, 1988, 101 Stat. 1710, which enacted section 2275a of this title and amended sections 2011 to 2013, 2017, 2031, 2051, 2052, 2071 to 2073, 2077, 2091, 2121, 2122, 2124, 2126, 2130, 2132, 2212, 2213, 2223, and 2252 of this title. For complete classification of section 802 to the Code, see Tables.
12 U.S.C. § 2276 (BANKS AND BANKING)
§ 2276. Access to and examination by Comptroller General of books, documents, etc., of farm credit system banks and institutions
On and after December 19, 1985, the Comptroller General or his duly authorized representatives shall have access to and the right to examine all books, documents, papers, records, or other recorded information within the possession or control of the Federal land banks and Federal land bank associations, Federal intermediate credit banks and production credit associations and banks for cooperatives.
(Pub. L. 99–190, § 107, Dec. 19, 1985, 99 Stat. 1316.)
heading: Editorial Notes
heading: Codification
text: Section was not enacted as part of the Farm Credit Act of 1971 which comprises this chapter.
12 U.S.C. § 2277a (BANKS AND BANKING)
§ 2277a. Definitions
As used in this part:
(1) Board of Directors
The term “Board of Directors” means the Board of Directors of the Corporation.
(2) Corporation
The term “Corporation” means the Farm Credit System Insurance Corporation established in section 2277a–1 of this title.
(3) Insured obligation
The term “insured obligation” means any note, bond, debenture, or other obligation issued under subsection (c) or (d) of section 2153 of this title—
(A) on or before January 5, 1989, on behalf of any System bank; and
(B) after such date, which, when issued, is issued on behalf of any insured System bank.
(4) Insured System bank
The term “insured System bank” means any System bank whose participation in notes, bonds, debentures, and other obligations issued under subsection (c) or (d) of section 2153 of this title is insured under this part.
(5) State
The term “State” means any of the 50 States, the District of Columbia, any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands.
(Pub. L. 92–181, title V, § 5.51, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1611; amended Pub. L. 100–399, title III, § 302(a), (b), Aug. 17, 1988, 102 Stat. 994; Pub. L. 104–105, title II, § 214(a), Feb. 10, 1996, 110 Stat. 175.)
heading: Editorial Notes
heading: Amendments
text: 1996—Pars. (5), (6). Pub. L. 104–105 redesignated par. (6) as (5) and struck out heading and text of former par. (5). Text read as follows: “The term ‘receiver’ means a receiver or conservator appointed by the Farm Credit Administration for a System institution.”
1988—Par. (3)(A), (B). Pub. L. 100–399, § 302(a), amended subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:
“(A) on or before January 6, 1988, on behalf of any System bank; and
“(B) after such date, on behalf of any insured System bank.”
Par. (5). Pub. L. 100–399, § 302(b), substituted “for” for “to liquidate”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1988 Amendment
text: 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.
heading: Termination of Trust Territory of the Pacific Islands
text: For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.
12 U.S.C. § 2277a–2 (BANKS AND BANKING)
§ 2277a–2. Board of Directors
(a) Establishment
The Corporation shall be managed by a Board of Directors that shall consist of the members of the Farm Credit Administration Board.
(b) Chairman
The Board of Directors shall be chaired by any Board member other than the Chairman of the Farm Credit Administration Board.
(Pub. L. 92–181, title V, § 5.53, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1611; amended Pub. L. 102–552, title II, § 201(a), Oct. 28, 1992, 106 Stat. 4104; Pub. L. 104–105, title II, § 219(a), Feb. 10, 1996, 110 Stat. 184.)
heading: Editorial Notes
heading: Amendments
text: 1996—Pub. L. 104–105 amended section generally. Prior to amendment, section related to Board of Directors, including provisions relating to establishment, appointment, chairperson, postemployment prohibition, terms of office, succession, vacancies, oath, quorum, meetings, rules and records, compensation, and expenses.
1992—Pub. L. 102–552 amended section generally. Prior to amendment, section read as follows:
“(a) Establishment.—The Corporation shall be managed by a Board of Directors that shall consist of the members of the Farm Credit Administration Board.
“(b) Chairman.—The Board of Directors shall be chaired by any Board member other than the Chairman of the Farm Credit Administration Board.”
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1992 Amendment; Transition Provision
text: Pub. L. 102–552, title II, § 201(c), Oct. 28, 1992, 106 Stat. 4105, provided that:
“(1) In general.—
The amendments made by this section [amending this section and sections 5314 and 5315 of Title 5, Government Organization and Employees] shall become effective on January 1, 1996.
“(2) Transitional provision.—
The Board of Directors of the Farm Credit System Insurance Corporation as established by section 5.53 of the Farm Credit Act of 1971 (12 U.S.C. 2277a–2) (as it existed before the amendments made by subsection (a) of this section) shall continue in existence and continue to manage the Farm Credit System Insurance Corporation until at least two members are appointed by the President, by and with the advice and consent of the Senate, to the new Board established by section 5.53 of such Act (as amended by subsection (a) of this section).”
12 U.S.C. § 2277a–13 (BANKS AND BANKING)
§ 2277a–13. Omitted
heading: Editorial Notes
heading: Codification
text: Section, Pub. L. 92–181, title V, § 5.64, as added Pub. L. 100–233, title III, § 302, Jan. 6, 1988, 101 Stat. 1619, which required the Farm Credit System Insurance Corporation to submit an annual report to Congress on the operations of the Corporation, terminated, effective May 15, 2000, pursuant to section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. See, also, page 167 of House Document No. 103–7.