12 U.S. Code § 2219b - Application of uninsured accounts

§ 2219b.
Application of uninsured accounts
(a) In general

Money of a borrower held by a Farm Credit System institution in an uninsured voluntary or involuntary account as authorized under regulations issued by the Farm Credit Administration (as in effect immediately before January 6, 1988), including all such other accounts known as “advanced payment accounts” or “future prepayment accounts” shall, in the event the institution is placed in liquidation, be immediately applied as payment against the indebtedness of any outstanding loans of such borrower.

(b) RegulationsThe Farm Credit Administration shall promulgate regulations—
(1)
that define the term “uninsured voluntary or involuntary account”; and
(2)
to otherwise effectively carry out this section.
Codification

Another section 4.37 of Pub. L. 92–181 was renumbered section 4.38 and is classified to section 2219c 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].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


12 CFR - Banks and Banking

12 CFR Part 614 - LOAN POLICIES AND OPERATIONS

12 CFR Part 616 - LEASING

12 CFR Part 617 - BORROWER RIGHTS

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.