The Farm Credit Banks shall, except as otherwise herein provided, make loans of the type authorized under section
2015(a) of this title through a Federal land bank association chartered to serve the territory in which the real estate of the borrower is located.
(b) No active association
If there is no active association chartered to serve territory where the real estate is located, the bank may make the loan directly or through such bank or trust company or savings or other financial institution as such bank may designate.
(c) Purchase of stock required
When the loan is not made through a Federal land bank association, the applicant shall purchase stock in the bank in accordance with the capitalization requirements provided for in the bylaws of the bank.
A prior section
1.13 of Pub. L. 92–181was classified to section
2031 of this title prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.