
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: 12USC2243]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
          SUBCHAPTER V--FARM CREDIT ADMINISTRATION ORGANIZATION
 
             Part B--Farm Credit Administration Organization
 
Sec. 2243. Powers of Board

    The Board shall manage and administer, and establish policies for, 
the Farm Credit Administration. It--
        (1) shall approve the rules and regulations for the 
    implementation of this chapter not inconsistent with its provisions;
        (2) shall provide for the examination of the condition of, and 
    general regulation of the performance of the powers, functions, and 
    duties vested in, each institution of the Farm Credit System;
        (3) shall provide for the performance of all the powers and 
    duties vested in the Farm Credit Administration; and
        (4) may require such reports as it deems necessary from the 
    institutions of the Farm Credit System.

(Pub. L. 92-181, title V, Sec. 5.9, Dec. 10, 1971, 85 Stat. 619; Pub. L. 
99-205, title II, Sec. 201(1), Dec. 23, 1985, 99 Stat. 1689; Pub. L. 
100-233, title VIII, Sec. 805(w), Jan. 6, 1988, 101 Stat. 1716.)


                               Amendments

    1988--Pub. L. 100-233 struck out ``; civil proceedings'' in section 
catchline.
    1985--Pub. L. 99-205 substituted requirement that the Board manage 
and administer, and establish policies for, the Farm Credit 
Administration for former requirement that the Federal Farm Credit Board 
establish the general policy for the guidance of the Farm Credit 
Administration, including matters of broad and general supervisory, 
advisory, or policy nature; incorporated existing text in provisions 
designated cls. (1) to (4); substituted in cl. (2) ``general 
regulation'' for ``general supervision''; and struck out last sentence 
which read as follows: ``The Board shall function as a unit without 
delegating any of its functions to individual members, but may appoint 
committees and subcommittees for studies and reports for consideration 
by the Board. It shall not operate in an administrative capacity.''


                    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.


                Interim Implementation of 1985 Amendment

    For provisions authorizing interim implementation by Governor of 
Farm Credit Administration of amendments to this section by Pub. L. 99-
205, see section 402 of Pub. L. 99-205, set out as a note under section 
2241 of this title.
