FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER V—FARM CREDIT ADMINISTRATION ORGANIZATION
State legislation
12 U.S.C. § 2259
This text of 12 U.S.C. § 2259 (State legislation) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 2259.
Text
Whenever it is determined by the Farm Credit Administration, or by judicial decision, that a State law is applicable to the obligations and securities authorized to be held by the institutions of the System under this chapter, which law would provide insufficient protection or inadequate safeguards against loss in the event of default, the Farm Credit Administration may declare such obligations or securities to be ineligible as collateral for the issuance of new notes, bonds, debentures, and other obligations under this chapter.
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Related
Federal Land Bank of St. Paul v. Lillehaugen
404 N.W.2d 452 (North Dakota Supreme Court, 1987)
Cipollone v. Liggett Group, Inc.
593 F. Supp. 1146 (D. New Jersey, 1984)
Source Credit
History
(Pub. L. 92–181, title V, §5.24, formerly §5.25, Dec. 10, 1971, 85 Stat. 624; renumbered §5.24, Pub. L. 99–205, title II, §203(b), Dec. 23, 1985, 99 Stat. 1694.)
Editorial Notes
Editorial Notes
Prior Provisions
A prior section 5.24 of Pub. L. 92–181 was renumbered section 5.23 and is classified to section 2258 of this title.
Prior Provisions
A prior section 5.24 of Pub. L. 92–181 was renumbered section 5.23 and is classified to section 2258 of this title.
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Bluebook (online)
12 U.S.C. § 2259, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/2259.