Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2218&num=0&edition=prelim
Timestamp: 2020-01-18 00:50:37
Document Index: 523339675

Matched Legal Cases: ['§ 2218', '§4', '§404', '§422', '§411', '§1834', '§1834', '§422', '§422']

[USC02] 12 USC 2218: Lines of insurance
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12 USC 2218: Lines of insurance Text contains those laws in effect on January 16, 2020
From Title 12-BANKS AND BANKINGCHAPTER 23-FARM CREDIT SYSTEMSUBCHAPTER IV-PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEMPart F-Sale of Insurance
Such regulations shall provide that-
(2) such insurance services may be offered only if-
(D) the insurance program has been approved by the bank or association from among specific programs made available to it by insurers-
(Pub. L. 92–181, title IV, §4.29, as added Pub. L. 96–592, title IV, §404, Dec. 24, 1980, 94 Stat. 3448 ; amended Pub. L. 100–233, title IV, §422(a), Jan. 6, 1988, 101 Stat. 1655 ; Pub. L. 100–399, title IV, §411, Aug. 17, 1988, 102 Stat. 1003 ; Pub. L. 101–624, title XVIII, §1834, Nov. 28, 1990, 104 Stat. 3833 .)
1990-Subsec. (a)(2). Pub. L. 101–624, §1834(1), inserted ", if more than two insurers for each type of insurance have proposed programs to a bank that will, in all likelihood, have long-term viability and meet the requirements of subsection (b)(2)(D)" before period at end of first sentence, and ", if at least two insurers have been approved in accordance with this paragraph" before period at end of third sentence.
1988-Subsec. (a). Pub. L. 100–233, §422(a)(1), designated existing provisions as par. (1), struck out "of this Act" to conform to style of original enactment, resulting in no change in text, inserted "or borrower from" before "any such bank", inserted provision at end giving a member or borrower the option, without coercion from the bank or association of such member or borrower, to accept or reject such insurance, and added par. (2).
Pub. L. 100–233, title IV, §422(b), Jan. 6, 1988, 101 Stat. 1656 , provided that: "Notwithstanding the amendments made to section 4.29 [12 U.S.C. 2218] by subsection (a), any insurance program offered by any bank or association of the Farm Credit System on the date of the enactment of this Act [Jan. 6, 1988] that does not meet the requirements of section 4.29, as so amended, may be continued until July 1, 1988."