
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC1141f]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 7A--AGRICULTURAL MARKETING
 
Sec. 1141f. Miscellaneous loan provisions

    (a) Repealed. Pub. L. 89-525, Sec. 4(b), Aug. 2, 1966, 80 Stat. 334.
    (b) Payments of principal or interest upon any such loan or advance 
shall be covered into the revolving fund.
    (c) Loans to any cooperative association or stabilization 
corporation shall be made upon the terms specified in this chapter and 
upon such other terms not inconsistent therewith and upon such security 
as the administration deems necessary.
    (d) No loan or insurance agreement shall be made by the 
administration if in its judgment the agreement is likely to increase 
unduly the production of any agricultural commodity of which there is 
commonly produced a surplus in excess of the annual marketing 
requirements.

(June 15, 1929, ch. 24, Sec. 8, 46 Stat. 14; Ex. Ord. No. 6084, Mar. 27, 
1933; June 16, 1933, ch. 98, title V, Sec. 54, 48 Stat. 266; June 3, 
1935, ch. 164, Sec. 11, 49 Stat. 316; Aug. 19, 1937, ch. 704, Sec. 5(a), 
50 Stat. 704; Aug. 11, 1955, ch. 785, title I, Sec. 109, 69 Stat. 662; 
Pub. L. 89-525, Sec. 4(b), Aug. 2, 1966, 80 Stat. 334.)

                          Codification

    Section was formerly classified to section 528 of Title 7, 
Agriculture.


                               Amendments

    1966--Subsec. (a). Pub. L. 89-525 repealed subsec. (a) which 
provided that loans to cooperative associations made by any bank for 
cooperatives shall bear such rates of interest as the board of directors 
of the bank shall from time to time determine with the approval of the 
Farm Credit Administration, but in no case shall the rate of interest 
exceed 6 per centum per annum on the unpaid principal of a loan. See 
section 2122 of this title.
    1955--Subsec. (a). Act Aug. 11, 1955, provided that boards of 
directors for banks would prescribe interest rates on loans in place of 
requirements relating interest rates on loans made by banks for 
cooperatives to interest rates charged by Federal intermediate credit 
banks and Federal land banks.
    1937--Subsec. (a). Act Aug. 19, 1937, substituted ``farm credit 
district'' for ``land bank district''.
    1935--Subsec. (a). Act June 3, 1935, among other changes, inserted 
proviso.
    1933--Subsec. (a). Act June 16, 1933, among other changes, modified 
interest rates.

                         Change of Name

    ``Administration'' substituted in text for ``board'' pursuant to Ex. 
Ord. No. 6084, set out preceding section 2241 of this title.


                    Effective Date of 1955 Amendment

    Amendment by act Aug. 11, 1955, effective on first day of month next 
following 120 days after Aug. 11, 1955, see section 112 of act Aug. 11, 
1955 (69 Stat. 662).

                          Transfer of Functions

    Establishment of Farm Credit Administration as an independent 
agency, composition of Farm Credit Administration, appointment of 
Governor of Farm Credit Administration, and duties thereof, including 
duty to perform functions, etc., of Farm Credit Administration, see 
section 2241 et seq. of this title.

                  Exceptions From Transfer of Functions

    Functions of Farm Credit Administration or any agency, officer, or 
entity of, under, or subject to supervision of said Administration 
excepted from functions of officers, agencies, and employees transferred 
to Secretary of Agriculture by Reorg. Plan No. 2, of 1953, Sec. 1, eff. 
June 4, 1953, 18 F.R. 3219, 67 Stat. 633, set out in the Appendix to 
Title 5, Government Organization and Employees.
