12 USC 2279a-2: Powers of merged banks
Text contains those laws in effect on April 23, 2024
From Title 12-BANKS AND BANKINGCHAPTER 23-FARM CREDIT SYSTEMSUBCHAPTER VII-RESTRUCTURING OF SYSTEM INSTITUTIONSPart A-Merger of Banks Within a District
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§2279a–2. Powers of merged banks
(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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