Provided, howeverState and other laws shall apply to corporations organized pursuant to this part to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: , That to the extent that sections 2023, 2098, and 2134 of this title may exempt banks or associations of the Farm Credit System from taxation, such exemptions, other than with respect to franchise taxes, shall not extend to corporations organized pursuant to this part.
Pub. L. 92–181, title IV, § 4Pub. L. 96–592, title IV, § 40494 Stat. 3448Pub. L. 100–399, title IX, § 901(k)102 Stat. 1007Pub. L. 102–237, title V, § 502(g)105 Stat. 1869(.28, as added , , ; amended , , ; , , .)
Editorial Notes
Amendments
Pub. L. 102–237section 2098 of this title1991— made technical amendment to reference to to reflect change in reference to corresponding section of original act.
Pub. L. 100–3991988— inserted “or associations” and substituted “2023, 2098,” for “2055, 2079,”.
Statutory Notes and Related Subsidiaries
Effective Date of 1991 Amendment
Pub. L. 102–237Pub. L. 101–624section 1101(b)(4) of Pub. L. 102–237section 1421 of Title 7Amendment by effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, , to which the amendment relates, see , set out as a note under , Agriculture.
Effective Date of 1988 Amendment
Pub. L. 100–399section 401 of Pub. L. 100–233section 1001(b) of Pub. L. 100–399section 2002 of this titleAmendment by effective immediately after amendment made by , which was effective 6 months after , see , set out as a note under .