Agreements for sharing gains or losses

  1. Law
  2. USC 12
  3. Banks And Banking
  4. FARM CREDIT SYSTEM
  5. FARM CREDIT ASSOCIATIONS
  6. Federal Land Bank Associations
  7. Agreements for sharing gains or losses

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§2096. Agreements for sharing gains or losses

Each Farm Credit Bank may enter into agreements with Federal land bank associations in its district for sharing the gain or losses on loans or on security held therefor or acquired in liquidation thereof, and associations are authorized to enter into any such agreements and also, subject to bank approval, agreements with other associations in the district for sharing the risk of loss on loans endorsed by each such association. As may be authorized by the bank in accordance with regulations of the Farm Credit Administration, associations also may enter into agreements with other Farm Credit System institutions to share loan and other losses, whether to protect against capital impairment or for any other purpose.

(Pub. L. 92–181, title II, §2.14, formerly §2.15, as added Pub. L. 100–233, title IV, §401, Jan. 6, 1988, 101 Stat. 1636 ; renumbered §2.14, Pub. L. 100–399, title IV, §401(w), Aug. 17, 1988, 102 Stat. 999 .)

Prior Provisions

A prior section 2096, Pub. L. 92–181, title II, §2.15, Dec. 10, 1971, 85 Stat. 601 ; Pub. L. 96–592, title II, §210, Dec. 24, 1980, 94 Stat. 3442 ; Pub. L. 99–205, title II, §205(b), Dec. 23, 1985, 99 Stat. 1703 ; Pub. L. 100–233, title IV, §431(f), title VIII, §805(i), Jan. 6, 1988, 101 Stat. 1660 , 1715; Pub. L. 100–399, title IV, §415(b), Aug. 17, 1988, 102 Stat. 1004 , related to short- and intermediate-term loans, participation, other financial assistance, terms, conditions, interest, and security, prior to the general amendment of this subchapter by Pub. L. 100–233, §401.

A prior section 2.14 of Pub. L. 92–181 was classified to section 2095 of this title and was repealed by Pub. L. 100–399, §401(v).

Effective Date

Pub. L. 100–233, title IV, §401, Jan. 6, 1988, 101 Stat. 1622 , provided that this section is effective 6 months after Jan. 6, 1988.


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