
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: 12USC2212]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
     SUBCHAPTER IV--PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF 
                       INSTITUTIONS OF THE SYSTEM
 
                      Part E--Service Organizations
 
Sec. 2212. Powers of Farm Credit Administration

    The Farm Credit Administration shall have power, under rules and 
regulations prescribed by the Farm Credit Administration, to provide for 
the organization of any corporation chartered under this part and the 
territory within which its operations may be carried on, and to approve 
amendments consistent with this chapter to charters or articles of 
service corporations.

(Pub. L. 92-181, title IV, Sec. 4.26, as added Pub. L. 96-592, title IV, 
Sec. 404, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 99-205, title 
II, Sec. 205(f)(9), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 100-233, title 
VIII, Sec. 802(s), Jan. 6, 1988, 101 Stat. 1712.)


                               Amendments

    1988--Pub. L. 100-233 struck out ``or by prescribing in the terms of 
the charter or by approval of the bylaws of the corporation'' after 
second reference to Farm Credit Administration, substituted ``approve 
amendments consistent with this chapter to charters or articles of 
service corporations'' for ``direct at any time such changes in its 
charter as the Farm Credit Administration finds necessary for the 
accomplishment of the purposes of this chapter'', and struck out last 
sentence which read as follows: ``The powers of the Farm Credit 
Administration to provide for the organization of any corporation 
chartered under this part include, but are not limited to approval of--
        ``(1) corporate title;
        ``(2) general corporate powers;
        ``(3) eligibility for membership on, and the powers, 
    composition, selection, terms, and compensation of the board of 
    directors;
        ``(4) classes, issuance, value, and retirement of stock;
        ``(5) sources of operating funds;
        ``(6) dissolution, liquidation, and distribution of assets on 
    liquidation; and
        ``(7) application and distribution of earnings.''
    1985--Pub. L. 99-205 substituted ``Farm Credit Administration'' for 
``Governor'' in heading and wherever appearing in text, and substituted 
``the Federal Credit Administration'' for ``he'' before ``finds 
necessary'' in first sentence.


                    Effective Date of 1985 Amendment

    Amendment by Pub. L. 99-205 effective thirty days after Dec. 23, 
1985, see section 401 of Pub. L. 99-205, set out as a note under section 
2001 of this title.

                  Section Referred to in Other Sections

    This section is referred to in title 18 section 212.
