Page:United States Statutes at Large Volume 101 Part 3.djvu/338

 101 STAT. 1636

PUBLIC LAW 100-233—JAN. 6, 1988

specified limits to other committees or to authorized employees -mo of the association; "(12) on agreement with the bank, take such additional actions with respect to applications and loans and perform such functions as are vested by law in the Farm Credit Banks as may be agreed to or delegated to the association; ,,,,,,,"(13) endorse and become liable to the bank on loans it makes to association members; ' "(14) receive such compensation and deduct such sums from loan proceeds with respect to each loan as may be agreed between the association and the bank and make such other charges for services as may be approved by the bank; ---' "(15) provide technical assistance to members, borrowers, applicants, and other eligible persons and make available to ^, them, at their option, such financial related services appropriate to their operations as it determines, with Farm Credit Bank approval, are feasible, under regulations of the Farm Credit Administration; "(16) borrow money from the bank and, with the approval of such bank, borrow from and issue association notes or other obligations to any commercial bank or other financial ' ^ institution; "(17) buy and sell obligations of or insured by the United • • no; States or any agency thereof or of any banks of the Farm Credit System; "(18) invest association funds in such obligations as may be authorized in regulations of the Farm Credit Administration and approved by the bank and deposit securities and current funds of the association with any member bank of the Federal Reserve System, with the Farm Credit Bank, or with any bank insured by the Federal Deposit Insurance Corporation, and pay fees therefor and receive interest thereon as may be agreed; "(19) perform such other function delegated to the association by the Farm Credit Bank of the district; "(20) exercise by its board of directors or authorized officers or agents all such incidental powers as may be necessary or expedient in the conduct of its business; and "(21) contribute to the capital of the bank. 12 USC 2094.
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"SEC. 2.13. FEDERAL LAND BANK ASSOCIATION CAPITALIZATION.

"In accordance with section 4.3A, the Federal land bank association shall provide, through its bylaws and subject to Farm Credit Administration regulations, for its capitalization and the manner in which its stock shall be issued, held, transferred, and retired and its earnings distributed. 12 USC 2095.

"SEC. 2.14. LIQUIDATION.

"Whenever any Federal land bank association is liquidated, a sum equal to its reserve account as required in this Act shall be paid and become the property of the bank in which such association is a shareholder. 12 USC 2096.

"SEC. 2.15. 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

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