12 U.S. Code § 2212 - Powers of Farm Credit Administration

The Farm Credit Administration shall have power, under rules and regulations prescribed by the Farm Credit Administration, to provide for the organization of any corporation chartered under this part and the territory within which its operations may be carried on, and to approve amendments consistent with this chapter to charters or articles of service corporations.

Source

(Pub. L. 92–181, title IV, § 4.26, as added Pub. L. 96–592, title IV, § 404,Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 99–205, title II, § 205(f)(9),Dec. 23, 1985, 99 Stat. 1706; Pub. L. 100–233, title VIII, § 802(s),Jan. 6, 1988, 101 Stat. 1712.)
Amendments

1988—Pub. L. 100–233struck out “or by prescribing in the terms of the charter or by approval of the bylaws of the corporation” after second reference to Farm Credit Administration, substituted “approve amendments consistent with this chapter to charters or articles of service corporations” for “direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter”, and struck out last sentence which read as follows: “The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of—
“(1) corporate title;
“(2) general corporate powers;
“(3) eligibility for membership on, and the powers, composition, selection, terms, and compensation of the board of directors;
“(4) classes, issuance, value, and retirement of stock;
“(5) sources of operating funds;
“(6) dissolution, liquidation, and distribution of assets on liquidation; and
“(7) application and distribution of earnings.”
1985—Pub. L. 99–205substituted “Farm Credit Administration” for “Governor” in heading and wherever appearing in text, and substituted “the Federal Credit Administration” for “he” before “finds necessary” in first sentence.
Effective Date of 1985 Amendment

Amendment by Pub. L. 99–205effective thirty days after Dec. 23, 1985, see section 401 ofPub. L. 99–205, set out as a note under section 2001 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

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12 CFR - Banks and Banking

12 CFR Part 611 - ORGANIZATION

12 CFR Part 613 - ELIGIBILITY AND SCOPE OF FINANCING

12 CFR Part 614 - LOAN POLICIES AND OPERATIONS

12 CFR Part 616 - LEASING

 

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