12 USC 2147: Patronage pools
Text contains those laws in effect on April 17, 2024
From Title 12-BANKS AND BANKINGCHAPTER 23-FARM CREDIT SYSTEMSUBCHAPTER III-BANKS FOR COOPERATIVESPart B-National Banks for Cooperatives
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§2147. Patronage pools
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.
(