The Farm Credit Administration shall have power, under rules and regulations prescribed by the Farm Credit Administration, to provide for the organization of any corporation chartered under this part and the territory within which its operations may be carried on, and to approve amendments consistent with this chapter to charters or articles of service corporations.
Pub. L. 92–181, title IV, § 4Pub. L. 96–592, title IV, § 40494 Stat. 3447Pub. L. 99–205, title II, § 205(f)(9)99 Stat. 1706Pub. L. 100–233, title VIII, § 802(s)101 Stat. 1712(.26, as added , , ; amended , , ; , , .)
Editorial Notes
Amendments
Pub. L. 100–2331988— struck out “or by prescribing in the terms of the charter or by approval of the bylaws of the corporation” after second reference to Farm Credit Administration, substituted “approve amendments consistent with this chapter to charters or articles of service corporations” for “direct at any time such changes in its charter as the Farm Credit Administration finds necessary for the accomplishment of the purposes of this chapter”, and struck out last sentence which read as follows: “The powers of the Farm Credit Administration to provide for the organization of any corporation chartered under this part include, but are not limited to approval of—
“(1) corporate title;
“(2) general corporate powers;
“(3) eligibility for membership on, and the powers, composition, selection, terms, and compensation of the board of directors;
“(4) classes, issuance, value, and retirement of stock;
“(5) sources of operating funds;
“(6) dissolution, liquidation, and distribution of assets on liquidation; and
“(7) application and distribution of earnings.”
Pub. L. 99–2051985— substituted “Farm Credit Administration” for “Governor” in heading and wherever appearing in text, and substituted “the Federal Credit Administration” for “he” before “finds necessary” in first sentence.
Statutory Notes and Related Subsidiaries
Effective Date of 1985 Amendment
Pub. L. 99–205section 401 of Pub. L. 99–205section 2001 of this titleAmendment by effective thirty days after , see , set out as a note under .