Page:United States Statutes at Large Volume 101 Part 3.djvu/274

 101 STAT. 1572

PUBLIC LAW 100-233—JAN. 6, 1988

"Sec. 8.5. Certification of agricultural mortgage marketing facilities. "Sec. 8.6. Guarantee of qualified loans. "Sec. 8.7. Reserves and subordinated participation interests of certified facilities. "Sec. 8.8. Standards for qualified loans. "Sec. 8.9. Exemption from restructuring and borrowers rights provisions for pooled loans. "Sec. 8.10. Funding for guarantee; reserves of Corporation. "Sec. 8.11. Supervision, examination, and report of condition. "Sec. 8.12. Securities in credit enhanced pools. "Sec. 8.13. Authority to issue obligations to cover guarantee losses of Corporation. "Sec. 8.14. Federal jurisdiction. Sec. 703. GAO audit of Federal Agricultural Mortgage Corporation. Sec. 704. GAO studies. Sec. 705. Conforming amendments. » ..?. /, ^.:, i? Subtitle B—Farmers Home Administration Loans Sec. 711. Improvement of secondary market operations for loans guaranteed by the Farmers Home Administration. Sec. Sec. Sec. Sec. Sec.

801. 802. 803. 804. 805.

TITLE VIII—MISCELLANEOUS Ownership requirement under the conservation reserve program. Repeal of preapproval and related authorities. Sale of rural development notes. ,• Other conforming amendments. Technical amendments. TITLE IX—REGULATIONS

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Sec. 901. Effective dates. SEC. 2. REFERENCES TO THE FARM CREDIT ACT OF 1971.

Except as otherwise specifically provided, whenever in this Act (other than in title VI) an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.).

TITLE I—ASSISTANCE TO FARM CREDIT SYSTEM BORROWERS SEC. 101. PROTECTION OF BORROWER STOCK.

Part A of title IV (12 U.S.C. 2151 et seq.) is amended by adding at the end thereof the following new section: 12 USC 2162.

"SEC. 4.9A. PROTECTION OF BORROWER STOCK.

"(a) RETIREMENT OF STOCK.—Notwithstanding any other section of this Act, each institution of the Farm Credit System, when retiring eligible borrower stock in accordance with this Act, shall retire such stock at par value. Any such institution whose capital stock is impaired (as determined in accordance with generally accepted accounting principles) shall coordinate such retirement of stock under this section with the activities of the Assistance Board and the Financial Assistance Corporation. "Qo) CERTAIN POWERS NOT AFFECTED.—This section does not affect the authority of any institution of the Farm Credit System— "(1) to retire or cancel borrower stock at par value for application against a loan in default;

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