
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC1401]

 
                       TITLE 12--BANKS AND BANKING
 
   CHAPTER 10--LOCAL AGRICULTURAL-CREDIT CORPORATIONS, LIVESTOCK-LOAN 
    COMPANIES AND LIKE ORGANIZATIONS; LOANS TO INDIVIDUALS TO AID IN 
                 FORMATION OR TO INCREASE CAPITAL STOCK
 
Sec. 1401. Authorization of loans by Governor of Farm Credit 
        Administration; regulations
        
    The Governor of the Farm Credit Administration is authorized to make 
advances or loans to individuals, under such regulations as he may 
prescribe, for the purpose of assisting in forming local agricultural-
credit corporations, livestock-loan companies, or like organizations, or 
of increasing the capital stock of such corporations, companies, or 
organizations qualified to do business with Federal intermediate credit 
banks, or to which such privileges may be extended.

(Mar. 3, 1932, ch. 70, Sec. 1, 47 Stat. 60; Ex. Ord. No. 6084, Mar. 27, 
1933.)

                          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.
    ``Governor of the Farm Credit Administration'' substituted for 
``Secretary of Agriculture'' and other changes were effected by Ex. Ord. 
No. 6084, which is set out preceding section 2241 of this title.
