
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: 12USC2219b]

 
                       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 G--Miscellaneous
 
Sec. 2219b. Application of uninsured accounts


(a) In general

    Money of a borrower held by a Farm Credit System institution in an 
uninsured voluntary or involuntary account as authorized under 
regulations issued by the Farm Credit Administration (as in effect 
immediately before January 6, 1988), including all such other accounts 
known as ``advanced payment accounts'' or ``future prepayment accounts'' 
shall, in the event the institution is placed in liquidation, be 
immediately applied as payment against the indebtedness of any 
outstanding loans of such borrower.

(b) Regulations

    The Farm Credit Administration shall promulgate regulations--
        (1) that define the term ``uninsured voluntary or involuntary 
    account''; and
        (2) to otherwise effectively carry out this section.

(Pub. L. 92-181, title IV, Sec. 4.37, as added Pub. L. 100-233, title I, 
Sec. 110, Jan. 6, 1988, 101 Stat. 1585.)

                          Codification

    Another section 4.37 of Pub. L. 92-181 was renumbered section 4.38 
and is classified to section 2219c of this title.
