12 U.S.C. § 2279a–2 — Powers of merged banks

FEDERAL · 12 U.S.C. · Chapter 23

Powers of merged banks

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 23 — FARM CREDIT SYSTEM·Subch. VII·Pt. A

(a)In general Except as otherwise provided in this subchapter, a merged bank shall have all of the powers granted to, and shall be subject to all of the obligations imposed on, any of the constituent entities of the merged bank.

(b)Regulations The Farm Credit Administration shall issue regulations that establish the manner in which the powers and obligations of the banks that form the merged bank are consolidated, and to the extent necessary, reconciled in the merged bank.

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(a) In general
Except as otherwise provided in this subchapter, a merged bank shall have all of the powers granted to, and shall be subject to all of the obligations imposed on, any of the constituent entities of the merged bank.
(b) Regulations
The Farm Credit Administration shall issue regulations that establish the manner in which the powers and obligations of the banks that form the merged bank are consolidated, and to the extent necessary, reconciled in the merged bank.

12 U.S.C. § 2279a–2 (Powers of merged banks) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 92–181, title VII, §7.2, as added Pub. L. 100–233, title IV, §416, Jan. 6, 1988, 101 Stat. 1645.)