
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: 12USC2275a]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
          SUBCHAPTER V--FARM CREDIT ADMINISTRATION ORGANIZATION
 
                          Part D--Miscellaneous
 
Sec. 2275a. Transition rules relating to amendment of certain 
        FCA approval authorities
        

(a) In general

    Any approvals granted by the Farm Credit Administration before 
January 6, 1988, shall remain in effect on and after such date.

(b) Authority to issue regulations

                           (1) In general

        Any approval authority of the Farm Credit Administration that, 
    under the amendments made by section 802 of the Agricultural Credit 
    Act of 1987, became an authority to issue regulations may be 
    exercised only until the earlier of the date the Farm Credit 
    Administration issues final regulations under such authority, or 1 
    year after January 6, 1988.

                       (2) Enforcement actions

        At the close of the 1-year period referred to in paragraph (1), 
    the Farm Credit Administration shall not take any enforcement action 
    against any System institution with respect to any provision so 
    amended, until the Farm Credit Administration issues final 
    regulations under such provision.

(c) Effect of section

    This section shall not affect the authority of the Farm Credit 
Administration to exercise any other approval authority either on a 
case-by-case basis or through regulation, as provided in section 
2252(a)(5) of this title.

(Pub. L. 92-181, title V, Sec. 5.45, as added Pub. L. 100-233, title 
VIII, Sec. 802(w), Jan. 6, 1988, 101 Stat. 1713.)

                       References in Text

    The amendments made by section 802 of the Agricultural Credit Act of 
1987, referred to in subsec. (b)(1), are the amendments made by section 
802 of Pub. L. 100-233, title VIII, Jan. 6, 1988, 101 Stat. 1710, which 
enacted section 2275a of this title and amended sections 2011 to 2013, 
2017, 2031, 2051, 2052, 2071 to 2073, 2077, 2091, 2121, 2122, 2124, 
2126, 2130, 2132, 2212, 2213, 2223, and 2252 of this title. For complete 
classification of section 802 to the Code, see Tables.
