Source: https://www.law.cornell.edu/uscode/text/12/2279b?quicktabs_8=0
Timestamp: 2016-05-05 11:49:44
Document Index: 563646308

Matched Legal Cases: ['§ 2279', 'art 1', '§ 2279', '§ 2279', '§\u202f7', '§\u202f7', '§\u202f416', '§\u202f408', '§\u202f408', '§\u202f408', '§\u202f408', '§\u202f408', '§\u202f408', 'art 610', 'art 611', 'art 614', 'art 616', 'art 619']

12 U.S. Code § 2279b - Transfer of lending authority | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 23 › Subchapter VII › Part B › Subpart 1 › § 2279b 12 U.S. Code § 2279b - Transfer of lending authority
Transfer of lending authority
(a) Voluntary transfersA Federal land bank or a merged bank having a Federal land bank as one of its constituents, may transfer to a Federal land bank association, and the association may assume, the authority of the transferring bank in the territorial area served by the association, to make and participate in long-term real estate mortgage loans under this chapter if the transfer is approved by—
(b) Direct loans and financial assistanceAfter a transfer described in subsection (a) or (d)—
the bank may provide and extend financial assistance to, and discount for, or purchase from, the transferee Federal land bank association any note, draft, or other obligation with the endorsement or guarantee of the association, the proceeds of which have been advanced to persons eligible and for purposes of financing by the association under subsection (a).
(Pub. L. 92–181, title VII, § 7.6, formerly §§ 7.6, 7.7, as added Pub. L. 100–233, title IV, § 416, Jan. 6, 1988, 101 Stat. 1647; amended Pub. L. 100–399, title IV, § 408(f)–(j), Aug. 17, 1988, 102 Stat. 1001, 1002.)
Pub. L. 100–399, § 408(j), transferred section 7.7 of Pub. L. 92–181, which was classified to section 2279c of this title, to subsec. (d) of this section.
1988—Subsec. (a). Pub. L. 100–399, § 408(f), substituted “Voluntary transfers” for “Assignments” as subsection heading, and in text substituted “may transfer” for “may assign”, “this chapter” for “sections 2014 through 2017 of this title”, and “transfer is approved” for “assignment is approved” in introductory provisions, and “sections 2279a and 2279c–1 of this title, respectively” for “sections 2279a and 2279b of this title” in par. (3).
Subsec. (b). Pub. L. 100–399, § 408(g), substituted “a transfer described in subsection (a) or (d)” for “an assignment described in subsection (a)” in introductory provisions and “the bank may provide” for “the Federal land bank may provide” in par. (2).
Subsec. (c). Pub. L. 100–399, § 408(h), struck out “assignments or” before “transfers are consolidated” and struck out second sentence, which provided that, following a transfer or assignment under subsection (a) of this section, the provisions of section 2154a of this title were to be applicable to the association.
Subsec. (d). Pub. L. 100–399, § 408(i), (j), transferred section 2279c of this title to subsec. (d) of this section, substituted heading for former section heading, and amended text generally. Prior to amendment, text read as follows: “On the merger of one or more production credit associations with one or more Federal land bank associations, the bank supervising the Federal land bank association shall transfer all of its direct lending authority of the bank to such association under section 2279c–1 of this title.”
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.12 CFR - Banks and Banking12 CFR Part 610 - REGISTRATION OF MORTGAGE LOAN ORIGINATORS12 CFR Part 611 - ORGANIZATION12 CFR Part 614 - LOAN POLICIES AND OPERATIONS12 CFR Part 616 - LEASING12 CFR Part 619 - DEFINITIONS