12 U.S.C. § 2076a — Liens on stock
submitted 36 years ago by Pub. L. 92-181 to r/title-12-BANKS-AND-BANKING · 69 words · no verdicts yet
Except for stock or participation certificates held by other Farm Credit System institutions, a production credit association has a first lien on specified capital interests to secure the holder’s debts and certain losses.
Except with regard to stock or participation certificates held by other Farm Credit* System institutions, each production credit association must have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.
Except with regard to stock or participation certificates held by other Farm Credit* System institutions, each production credit association shall have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.
Source credit: (Pub. L. 92–181, title II, § 2.6, as added Pub. L. 101–624, title XVIII, § 1833(2), Nov. 28, 1990, 104 Stat. 3832.)
- 1990Enacted · Pub. L. 92-181 · 104 Stat. 3832
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1990-11-28.
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