12 U.S. Code § 2214 - State laws
State and other laws shall apply to corporations organized pursuant to this part to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: Provided, however, That to the extent that sections 2023, 2098, and 2134 of this title may exempt banks or associations of the Farm Credit System from taxation, such exemptions, other than with respect to franchise taxes, shall not extend to corporations organized pursuant to this part.
Source(Pub. L. 92–181, title IV, § 4.28, as added Pub. L. 96–592, title IV, § 404,Dec. 24, 1980, 94 Stat. 3448; amended Pub. L. 100–399, title IX, § 901(k),Aug. 17, 1988, 102 Stat. 1007; Pub. L. 102–237, title V, § 502(g),Dec. 13, 1991, 105 Stat. 1869.)
1991—Pub. L. 102–237made technical amendment to reference to section 2098 of this title to reflect change in reference to corresponding section of original act.
1988—Pub. L. 100–399inserted “or associations” and substituted “2023, 2098,” for “2055, 2079,”.
Effective Date of 1991 Amendment
Amendment by Pub. L. 102–237effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, to which the amendment relates, see section 1101(b)(4) ofPub. L. 102–237, set out as a note under section 1421 of Title 7, Agriculture.
Effective Date of 1988 Amendment
LII has no control over and does not endorse any external Internet site that contains links to or references LII.