12 U.S.C. § 2277a–10b
Authority to regulate golden parachute and indemnification payments
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 2277a–10b, Authority to regulate golden parachute and indemnification payments, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438299
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Full text
In this section:
The term “golden parachute payment”—
means a payment (or any agreement to make a payment) in the nature of compensation for the benefit of any institution-related party under an obligation of any Farm Credit System institution that—
is received on or after the date on which—
does not include—
The term “indemnification payment” means a payment (or any agreement to make a payment) by any Farm Credit System institution for the benefit of any person who is or was an institution-related party, to pay or reimburse the person for any liability or legal expense with regard to any administrative proceeding or civil action instituted by the Farm Credit Administration that results in a final order under which the person—
The term “institution-related party” means—
The term “liability or legal expense” means—
The term “payment” means—
any segregation of any funds or assets for the purpose of making, or under an agreement to make, any payment after the date on which the funds or assets are segregated, without regard to whether the obligation to make the payment is contingent on—
The Corporation may prohibit or limit, by regulation or order, any golden parachute payment or indemnification payment by a Farm Credit System institution (including any conservator or receiver of the Federal Agricultural Mortgage Corporation) in troubled condition (as defined in regulations issued by the Corporation).
The Corporation shall prescribe, by regulation, the factors to be considered by the Corporation in taking any action under subsection (b). The factors may include—
whether there is a reasonable basis to believe that the institution-related party has violated or conspired to violate—
the length of time that the party was related to the Farm Credit System institution and the degree to which—
No Farm Credit System institution may prepay the salary or any liability or legal expense of any institution-related party if the payment is made—
with a view to, or with the result of—
Nothing in this section—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Farm Credit System Reform Act of 1996House: no recorded tallySenate: no recorded tally