12 USC § 2020 - Related services
(a)
In general
The Farm Credit Banks may provide technical assistance to borrowers, members, and applicants from the bank and associations in the district, including persons obligated on paper discounted by the bank, and may make available to them at their option such financial related services appropriate to their on-farm and aquatic operations as determined to be feasible by the board of directors of the bank, under regulations of the Farm Credit Administration.
(b)
Authority to pass along cost of insurance premiums
(1)
In general
Each Farm Credit Bank may assess each production credit association, other association making direct loans under the authority provided under section
2279b of this title, and other financing institution described in section
2015
(b)(1)(B) of this title in the district in which the bank is located to cover the costs of making premium payments under part E of subchapter V of this chapter.
(a)
In general
The Farm Credit Banks may provide technical assistance to borrowers, members, and applicants from the bank and associations in the district, including persons obligated on paper discounted by the bank, and may make available to them at their option such financial related services appropriate to their on-farm and aquatic operations as determined to be feasible by the board of directors of the bank, under regulations of the Farm Credit Administration.
(b)
Authority to pass along cost of insurance premiums
(1)
In general
Each Farm Credit Bank may assess each production credit association, other association making direct loans under the authority provided under section
2279b of this title, and other financing institution described in section
2015
(b)(1)(B) of this title in the district in which the bank is located to cover the costs of making premium payments under part E of subchapter V of this chapter.
Source
(Pub. L. 92–181, title I, § 1.12, as added Pub. L. 100–233, title IV, § 401,Jan. 6, 1988, 101 Stat. 1628; amended Pub. L. 100–399, title IV, § 401(k),Aug. 17, 1988, 102 Stat. 996; Pub. L. 101–220, § 6(b)(1), (2),Dec. 12, 1989, 103 Stat. 1880; Pub. L. 104–105, title II, § 215(a)(2)(C),Feb. 10, 1996, 110 Stat. 176; Pub. L. 107–171, title V, § 5403(a)(2)(A),May 13, 2002, 116 Stat. 350; Pub. L. 110–234, title V, § 5401(a),May 22, 2008, 122 Stat. 1154; Pub. L. 110–246, § 4(a), title V, § 5401(a),June 18, 2008, 122 Stat. 1664, 1915.)
Codification
Pub. L. 110–234and Pub. L. 110–246made identical amendments to this section. The amendments by Pub. L. 110–234were repealed by section 4(a) ofPub. L. 110–246.
Prior Provisions
A prior section
2020,Pub. L. 92–181, title I, § 1.12, Dec. 10, 1971, 85 Stat. 586; Pub. L. 96–592, title I, § 109,Dec. 24, 1980, 94 Stat. 3439, related to loans through associations or agents, prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
Amendments
2008—Subsec. (b). Pub. L. 110–246, § 5401(a), designated first sentence as par. (1), inserted heading, added par. (2), and struck out former second sentence which related to computation of the assessment on the same basis as is used to compute the premium payment and provided formula to calculate a maximum amount.
2002—Subsec. (b)(1). Pub. L. 107–171, § 5403(a)(2)(A)(i), inserted “and Government Sponsored Enterprise-guaranteed loans (as defined in section
2277a–4
(a)(4) of this title) provided for in paragraph (4)” after “government-guaranteed loans (as defined in section
2277a–4
(a)(3) of this title) provided for in paragraph (3)”.
Subsec. (b)(4). Pub. L. 107–171, § 5403(a)(2)(A)(ii)–(iv), added par. (4).
1996—Pub. L. 104–105, § 215(a)(2)(C), which directed amendment of “section
1.12(b)”, without specifying the name of the Act being amended, was executed to this section, which is section 112 of the Farm Credit Act of 1971, to reflect the probable intent of Congress.
Subsec. (b)(1). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as defined in section
2277a–4
(a)(3) of this title)” after “government-guaranteed loans”.
Subsec. (b)(3). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as so defined)” after “government-guaranteed loans” in subpars. (A) and (B).
1989—Subsec. (b). Pub. L. 101–220, § 6(b)(1), inserted “, other association making direct loans under the authority provided under section
2279b of this title,” after “production credit association”.
Subsec. (b)(1). Pub. L. 101–220, § 6(b)(2)(A), inserted “funded by or” before “discounted with” and “excluding the guaranteed portions of government-guaranteed loans provided for in paragraph (3),” and struck out “and” after “multiplied by 0.0015;”.
Subsec. (b)(2). Pub. L. 101–220, § 6(b)(2)(B), inserted “funded by or” before “discounted with” and substituted “0.0025; and” for “0.0025.”.
Subsec. (b)(3). Pub. L. 101–220, § 6(b)(2)(C), added par. (3).
1988—Subsec. (a). Pub. L. 100–399designated existing provision as subsec. (a), inserted heading, substituted “directors of the bank” for “directors of each district bank”, and added subsec. (b).
Effective Date of 2008 Amendment
Amendment of this section and repeal of Pub. L. 110–234by Pub. L. 110–246effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 ofPub. L. 110–246, set out as an Effective Date note under section
8701 of Title
7, Agriculture.
Effective Date of 2002 Amendment
Pub. L. 107–171, title V, § 5403(b),May 13, 2002, 116 Stat. 351, provided that: “The amendments made by this section [amending this section and sections
2277a–4 and
2277a–5 of this title] shall apply with respect to determinations of premiums for calendar year 2002 and for any succeeding calendar year, and to certified statements with respect to such premiums.”
Effective Date of 1989 Amendment
Section 6(c) ofPub. L. 101–220provided that: “The amendments made by subsections (a) and (b) [amending sections
2020,
2277a–4,
2277a–8, and
2277a–10 of this title] shall be effective for insurance premiums due to the Farm Credit System Insurance Corporation under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) on or after January 1, 1990, based on the loan volume of each bank for each calendar year beginning with calendar year 1989, and shall be effective for the calculation of the initial premium payment required under section 5.56(c) of the Farm Credit Act of 1971 (12 U.S.C. 2277a–5
(c)).”
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399effective immediately after amendment made by section 401 ofPub. L. 100–233, which was effective 6 months after Jan. 6, 1988, see section 1001(b) ofPub. L. 100–399, set out as a note under section
2002 of this title.
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The most recent Classification Table update that we have noticed was Friday, May 3, 2013
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