
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: 12USC2259]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
          SUBCHAPTER V--FARM CREDIT ADMINISTRATION ORGANIZATION
 
             Part B--Farm Credit Administration Organization
 
Sec. 2259. State legislation

    Whenever it is determined by the Farm Credit Administration, or by 
judicial decision, that a State law is applicable to the obligations and 
securities authorized to be held by the institutions of the System under 
this chapter, which law would provide insufficient protection or 
inadequate safeguards against loss in the event of default, the Farm 
Credit Administration may declare such obligations or securities to be 
ineligible as collateral for the issuance of new notes, bonds, 
debentures, and other obligations under this chapter.

(Pub. L. 92-181, title V, Sec. 5.24, formerly Sec. 5.25, Dec. 10, 1971, 
85 Stat. 624; renumbered Sec. 5.24, Pub. L. 99-205, title II, 
Sec. 203(b), Dec. 23, 1985, 99 Stat. 1694.)


                            Prior Provisions

    A prior section 5.24 of Pub. L. 92-181 was renumbered section 5.23 
and is classified to section 2258 of this title.
