Page:United States Statutes at Large Volume 101 Part 3.djvu/362

 101 STAT. 1660

12 USC 2252.

PUBLIC LAW 100-233—JAN. 6, 1988

(d) ADVISORY COMMITTEES.—Section 5.12 (12 U.S.C. 2246) is amended by inserting ", subject to the approval of the Board," after "Chairman of the Board". (e) POWERS.—Section 5.17(a) (12 U.S.C. 2251(a)) is amended— (1) in paragraph (2), by striking out the last sentence and inserting in lieu thereof the following new sentence: "The Farm Credit Administration Board, after consultation with the respective boards of directors of the affected banks, may require two or more banks operating under the same or different titles to merge if the Board determines that one of such banks has failed to meet its outstanding obligations."; and (2) in paragraph (15)— (A) by inserting "by the Board" after "determined"; and !;" (B) by adding at the end thereof the following new sen* tence: "The Board may not delegate its responsibilities under this paragraph.". (f) SPECIAL DISTRICT RULE.—Section 2.15 (12 U.S.C. 2096) is amended by adding at the end thereof the following new subsection: "(c)(1) On request, the Farm Credit Administration Board may permit a production credit association, located in a district in which there are no more than three such associations, notwithstanding any territorial limitation in the charter of such association, to provide credit and technical assistance to any borrower who is denied credit by a production credit association that— "(A) has an adjoining service territory; and "(B) is located in the same district, if the Board determines that one of the production credit gissociations in the district is unduly restrictive in the application of credit standards. "(2) If the Farm Credit Administration Board approves the extension of credit and technical assistance under paragraph (1), the association shall approve or deny the application for credit within 90 days after the receipt of the application from the borrower.". (g) CONFORMING AMENDMENT.—Section 4.12 (12 U.S.C. 2183) is

amended by inserting "Board" after "Farm Credit Administration" each place it appears in subsection (b) other than in clause (5) of the first sentence. SEC. 432. FARM CREDIT ADMINISTRATION ORGANIZATION.

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(a) OPERATING EXPENSES FUND.—Section 5.15 (12 U.S.C. 2249) is amended to read as follows: 12 USC 2250.

"SEC. 5.15. FARM CREDIT ADMINISTRATION OPERATING EXPENSES FUND. "(a) DETERMINATIONS REQUIRED.—

"(1) GENERALLY.—Prior to the first day of each fiscal year, the Farm Credit Administration shall determine— "(A) the cost of administering this Act for the subsequent fiscal year, including expenses for official functions; "(B) the amount of assessments that will be required to pay such administrative expenses, taking into consideration the funds contained in the Administrative Expense Ac. f.. count, and maintain a necessary reserve; and "(C) the amount of assessments that will be required to r pay the costs of supervising and examining the Mortgeige Corporation established under title VIII.,..,. ^.,-^i.,,

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