
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: 12USC2279bb]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
         SUBCHAPTER VIII--AGRICULTURAL MORTGAGE SECONDARY MARKET
 
    Part B--Regulation of Financial Safety and Soundness of Federal 
                    Agricultural Mortgage Corporation
 
Sec. 2279bb. Definitions

    For purposes of this part:

                          (1) Compensation

        The term ``compensation'' means any payment of money or the 
    provision of any other thing of current or potential value in 
    connection with employment.

                          (2) Core capital

        The term ``core capital'' means, with respect to the 
    Corporation, the sum of the following (as determined in accordance 
    with generally accepted accounting principles):
            (A) The par value of outstanding common stock.
            (B) The par value of outstanding preferred stock.
            (C) Paid-in capital.
            (D) Retained earnings.

                            (3) Director

        The term ``Director'' means the Director of the Office of 
    Secondary Market Oversight of the Farm Credit Administration, 
    selected under section 2279aa-11(a)(3) of this title.

                             (4) Office

        The term ``Office'' means the Office of Secondary Market 
    Oversight of the Farm Credit Administration, established in section 
    2279aa-11(a) of this title.

                       (5) Regulatory capital

        The term ``regulatory capital'' means, with respect to the 
    Corporation, the core capital of the Corporation plus an allowance 
    for losses and guarantee claims, as determined in accordance with 
    generally accepted accounting principles.

                              (6) State

        The term ``State'' means the States of the United States, the 
    District of Columbia, the Commonwealth of Puerto Rico, the 
    Commonwealth of the Northern Mariana Islands, Guam, the Virgin 
    Islands, American Samoa, the Trust Territory of the Pacific Islands, 
    and any other territory or possession of the United States.

(Pub. L. 92-181, title VIII, Sec. 8.31, as added Pub. L. 102-237, title 
V, Sec. 503(b)(2), Dec. 13, 1991, 105 Stat. 1871.)

          Termination of Trust Territory of the Pacific Islands

    For termination of Trust Territory of the Pacific Islands, see note 
set out preceding section 1681 of Title 48, Territories and Insular 
Possessions.
