Page:United States Statutes at Large Volume 101 Part 3.djvu/360

 101 STAT. 1658

PUBLIC LAW 100-233—JAN. 6, 1988

applies the affirmative action standards otherwise applied to contractors of the Federal Government.". SEC. 428. ENCOURAGEMENT OF CONSERVATION PRACTICES.

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Part F of title IV (12 U.S.C. 2219 et seq.) is amended by adding at the end thereof the following new section: 12 USC 2219d.

"SEC. 4.38. ENCOURAGEMENT OF CONSERVATION PRACTICES.

"At the time a System institution or an agricultural mortgage loan originator (as defined in section 8.0(7)) approves a loan made to a borrower that, in the opinion of the institution or originator, would be ineligible for a loan made, insured, or guaranteed under the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) by reason of subtitle B or C of title XII of the Food Security Act of 1985 (16 U.S.C. 3811 et seq.), the institution or originator, as the case may be, shall encourage the borrower to contact the Department of Agriculture Soil Conservation Service to obtain information about soil conservation methods and practices.". SEC. 429. UNIFORM FINANCIAL REPORTING INSTRUCTIONS.

Part B of title V is amended by inserting after section 5.22 (12 U.S.C. 2257) the following new section: 12 USC 2257a.

"SEC. 5.22A. UNIFORM FINANCIAL REPORTING INSTRUCTIONS.

"(a) IN GENERAL.—Each System institution shall comply with uniform financial reporting instructions required by the Farm Credit Administration, to standardize and facilitate the reporting of System data. "(b) COMPUTERIZED SYSTEM.—If the financial reports are maintained by a computer system, each System institution may develop an internal computer system or it may contract out to a vendor under open competitive bidding any or all aspects of the computerized system. "(c) SUBMISSION OF PROPOSAL.—Within 6 months of the date of the enactment of this section, each System institution shall submit to the Farm Credit Administration a report on the plan of that institution to bring the operations of the institution into compliance with the uniform financial reporting instructions required by the Farm Credit Administration.". SEC. 430. COMPENSATION FOR DIRECTORS.

Section 5.5 (12 U.S.C. 2226) is amended by inserting before the period at the end thereof the following: "No director may receive compensation under this section during any year in a total amount exceeding $15,000.". SEC. 431. FARM CREDIT ADMINISTRATION BOARD.

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(a) RULES AND RECORDS.—Section 5.8(c) (12 U.S.C. 2242) is amended by striking out the last sentence and inserting in lieu thereof the following new sentence: "The Board shall adopt such rules as it deems appropriate for the transaction of business by the Board, and shall keep permanent and accurate records and minutes of the actions and proceedings of the Board.".

(b) CHAIRMAN.—Subsection (a) of section 5.10 (12 U.S.C. 2244(a)) is •- :-.... amended to read as follows: "(a)(1) The Chairman of the Board shall be the chief executive officer of the Farm Credit Administration. ,„ _..

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