
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: 12USC2277a-2]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
          SUBCHAPTER V--FARM CREDIT ADMINISTRATION ORGANIZATION
 
            Part E--Farm Credit System Insurance Corporation
 
Sec. 2277a-2. Board of Directors


(a) Establishment

    The Corporation shall be managed by a Board of Directors that shall 
consist of the members of the Farm Credit Administration Board.

(b) Chairman

    The Board of Directors shall be chaired by any Board member other 
than the Chairman of the Farm Credit Administration Board.

(Pub. L. 92-181, title V, Sec. 5.53, as added Pub. L. 100-233, title 
III, Sec. 302, Jan. 6, 1988, 101 Stat. 1611; amended Pub. L. 102-552, 
title II, Sec. 201(a), Oct. 28, 1992, 106 Stat. 4104; Pub. L. 104-105, 
title II, Sec. 219(a), Feb. 10, 1996, 110 Stat. 184.)


                               Amendments

    1996--Pub. L. 104-105 amended section generally. Prior to amendment, 
section related to Board of Directors, including provisions relating to 
establishment, appointment, chairperson, postemployment prohibition, 
terms of office, succession, vacancies, oath, quorum, meetings, rules 
and records, compensation, and expenses.
    1992--Pub. L. 102-552 amended section generally. Prior to amendment, 
section read as follows:
    ``(a) Establishment.--The Corporation shall be managed by a Board of 
Directors that shall consist of the members of the Farm Credit 
Administration Board.
    ``(b) Chairman.--The Board of Directors shall be chaired by any 
Board member other than the Chairman of the Farm Credit Administration 
Board.''


         Effective Date of 1992 Amendment; Transition Provision

    Section 201(c) of Pub. L. 102-552 provided that:
    ``(1) In general.--The amendments made by this section [amending 
this section and sections 5314 and 5315 of Title 5, Government 
Organization and Employees] shall become effective on January 1, 1996.
    ``(2) Transitional provision.--The Board of Directors of the Farm 
Credit System Insurance Corporation as established by section 5.53 of 
the Farm Credit Act of 1971 (12 U.S.C. 2277a-2) (as it existed before 
the amendments made by subsection (a) of this section) shall continue in 
existence and continue to manage the Farm Credit System Insurance 
Corporation until at least two members are appointed by the President, 
by and with the advice and consent of the Senate, to the new Board 
established by section 5.53 of such Act (as amended by subsection (a) of 
this section).''
