Page:United States Statutes at Large Volume 102 Part 1.djvu/1033

 PUBLIC LAW 100-399—AUG. 17, 1988

102 STAT. 995

SEC. 303. AMENDMENT RELATED TO SECTION 303 OF THE 1987 ACT. Section 4.4 is amended by redesignating subsection (e) as subsec- 12 USC 2155. tion (d).

TITLE IV—AMENDMENTS RELATED TO TITLE IV OF THE 1987 ACT SEC. 401. AMENDMENTS RELATED TO SECTION 401 OF THE 1987 ACT. (a) Section 1.3(a) is amended by inserting ", as provided in section 410 of the Agricultural Credit Act of 1987/^before "shall". (h) Section 1.3(b) is amended to read as follows: "(b) CHARTERS.—The Farm Credit Administration shall, consistent with this Act, issue charters for, and approve amendments to charters of, the Farm Credit Banks.". (c) Section 1.4 is amended by striking out "from its voting stockholders". (d) Section 1.5 is amended— (1) by amending paragraph (9) to read as follows: "(9) prescribe, by its board of directors, its bylaws that shall be consistent with law, and that shall provide for— "(A) the classes of its stock and the manner in which such stock shall be issued, transferred, and retired; and "(B) the manner in which it is to— "(i) select officers, employees, and agents; "(ii) acquire, hold, and transfer property; "(iii) make loans and discounts; "(iv) conduct general business; and "(v) exercise and enjoy the privileges granted to it by law;"; (2) in paragraph (11), by striking out "or securities of" and inserting in lieu thereof "of securities or"; (3) in subparagraphs (B) and (C) of paragraph (12), by striking out "participate with"; (4) in paragraph (14), by striking out "as defined in section 3 of the Federal Deposit Insurance Act" and inserting in lieu thereof "(within the meaning of section 3 of the Feder^ Deposit Insurance Act (12 U.S.C. 1813))"; (5) in paragraph (18), by striking out "Federal land bank"; (6) in paragraph (22), by striking out "as authorized by the Farm Credit Administration; and" and inserting in lieu thereof "in accordance with generally accepted accounting principles, except as may be authorized by the Farm Credit Administration;'; (7) in paragraph (23)— (A) by striking out "and approved by the Farm Credit Administration Board"; and (B) by striking out the period at the end and inserting in lieu thereof "; and"; and (8) by adding at the end the following: "(24) operate as an originator and become certified as a certified facility under title VIII.". (e) Section 1.7(a) is amended to read as follows: "(a) REAL ESTATE LOANS AND RELATED ASSISTANCE.— "(1) REAL ESTATE LOANS.—The Farm Credit Banks

may make or participate with other lenders in long-term real estate mort-

12 USC 2011.

12 USC 2012. 12 USC 2013.

12 USC 2015.

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