12 U.S.C. § 2147 — Patronage pools

FEDERAL · 12 U.S.C. · Chapter 23

Patronage pools

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 23 — FARM CREDIT SYSTEM·Subch. III·Pt. B

Under such terms and conditions as may be determined by its board of directors, the consolidated bank may—

(1)for a period of at least 3 years following January 6, 1988, establish separate patronage pools consisting of loans to eligible borrowers located in each constituent farm credit district (as such district existed on January 6, 1988); and

(2)allocate revenues, expenses, and net savings among such pools on an equitable basis.

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Under such terms and conditions as may be determined by its board of directors, the consolidated bank may—
(1) for a period of at least 3 years following January 6, 1988, establish separate patronage pools consisting of loans to eligible borrowers located in each constituent farm credit district (as such district existed on January 6, 1988); and
(2) allocate revenues, expenses, and net savings among such pools on an equitable basis.

12 U.S.C. § 2147 (Patronage pools) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 92–181, title III, §3.26, as added Pub. L. 100–233, title IV, §415(2), Jan. 6, 1988, 101 Stat. 1644.)