
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: 12USC2214]

 
                       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. 2214. State laws

    State and other laws shall apply to corporations organized pursuant 
to this part to the same extent such laws would apply to the organizing 
banks engaged in the same activity in the same jurisdiction: Provided, 
however, That to the extent that sections 2023, 2098, and 2134 of this 
title may exempt banks or associations of the Farm Credit System from 
taxation, such exemptions, other than with respect to franchise taxes, 
shall not extend to corporations organized pursuant to this part.

(Pub. L. 92-181, title IV, Sec. 4.28, as added Pub. L. 96-592, title IV, 
Sec. 404, Dec. 24, 1980, 94 Stat. 3448; amended Pub. L. 100-399, title 
IX, Sec. 901(k), Aug. 17, 1988, 102 Stat. 1007; Pub. L. 102-237, title 
V, Sec. 502(g), Dec. 13, 1991, 105 Stat. 1869.)


                               Amendments

    1991--Pub. L. 102-237 made technical amendment to reference to 
section 2098 of this title to reflect change in reference to 
corresponding section of original act.
    1988--Pub. L. 100-399 inserted ``or associations'' and substituted 
``2023, 2098,'' for ``2055, 2079,''.


                    Effective Date of 1991 Amendment

    Amendment by Pub. L. 102-237 effective as if included in the 
provision of the Food, Agriculture, Conservation, and Trade Act of 1990, 
Pub. L. 101-624, to which the amendment relates, see section 1101(b)(4) 
of Pub. L. 102-237, set out as a note under section 1421 of Title 7, 
Agriculture.


                    Effective Date of 1988 Amendment

    Amendment by Pub. L. 100-399 effective immediately after amendment 
made by section 401 of Pub. L. 100-233, which was effective 6 months 
after Jan. 6, 1988, see section 1001(b) of Pub. L. 100-399, set out as a 
note under section 2002 of this title.
