12 U.S.C. § 2279aa–3
Powers and duties of Corporation and Board
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 2279aa–3, Powers and duties of Corporation and Board, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438337
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Full text
After the Board has been duly constituted, subject to the other provisions of this subchapter and other commitments and requirements established pursuant to law, the Corporation may provide guarantees on terms and conditions determined by the Corporation of securities issued on the security of, or in participation in, pooled interests in qualified loans.
The Board shall—
The persons elected or appointed under paragraph (1)(B) shall be the executive officers of the Corporation and shall discharge the executive functions, powers, and duties of the Corporation.
The Corporation shall be a body corporate and shall have the following powers:
To prescribe bylaws, through the Board, not inconsistent with law, that shall provide for—
the manner in which—
The Federal Reserve banks shall act as depositories for, and as fiscal agents or custodians of, the Corporation.
The Corporation shall have access to the book-entry system of the Federal Reserve System.
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 The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Agricultural Credit Act of 1987House: no recorded tallySenate: no recorded tally
- Agricultural Credit Technical Corrections Act of 1988House: no recorded tallySenate: no recorded tally
- Food, Agriculture, Conservation, and Trade Act Amendments of 1991House: 417–5Senate: no recorded tally
- Farm Credit Banks and Associations Safety and Soundness Act of 1992House: no recorded tallySenate: no recorded tally
- Farm Credit System Reform Act of 1996House: no recorded tallySenate: no recorded tally