Page:United States Statutes at Large Volume 102 Part 1.djvu/1034

 102 STAT. 996

12 USC 2015.

12 USC 2016. 12 USC 2018.

12 USC 2019. 12 USC 2020.

PUBLIC LAW 100-399—AUG. 17, 1988

gage loans in rural areas, as defined by the Farm Credit Administration, or to producers or harvesters of aquatic products, and make continuing commitments to make such loans under specified circumstances, for a term of not less than 5 nor more than 40 years. "(2) FINANCIAL ASSISTANCE.—The Farm Credit Banks may provide and extend financial assistance to, and discount for, or purchase from, a Federal land bank association any note, draft, or other obligation with the endorsement or guarantee of the association, the proceeds of which have been advanced to persons eligible and for purposes of financing by the association, as authorized under section 7.6(a).". (f) Section 1.7flt)) is amended— (1) in paragraph (2), by striking out the second sentence; (2) in paragraph (3)— (A) in the heading, by striking out "ASSISTANCE" and inserting in lieu thereof "SERVICES"; and (B) in subparagraph (B), by striking out "herein contained" and inserting in lieu thereof "described in subparagraph (A)"; and (3) in paragraph (4)(A), by striking out "section" and inserting in lieu thereof "subsection". (g) Section 1.8(a) is amended by striking out "interest at a rate or rates, and" and inserting in lieu thereof "such rate or rates of interest or discount, and be". (h) Section 1.10(a) is amended— (1) in paragraph (2), by striking out "approved by" and inserting in lieu thereof "prescribed by regulations of"; and (2) in paragraph (3)— (A) by striking out "appraisal" the second place it appears; and (B) by striking out "and approved by" and inserting in lieu thereof "in accordance with regulations of". (i) Section 1.10(b) is amended by striking out "harvester" and inserting in lieu thereof "harvesters". (j) Section l.ll(c)(2) is amended— (1) by inserting "equipment or" before "facilities"; and (2) by inserting "or title II" after "title". (k) Section 1.12 is amended— (1) by inserting "(a) IN GENERAL.—" before "The Farm Credit Banks"; (2) by striking out "each district" and inserting in lieu thereof "the"; and (3) by adding at the end the following new subsection: "(b) AUTHORITY TO PASS ALONG (DOST OF INSURANCE PREMIUMS.—

Each Farm Credit Bank may assess each production credit association and other financing institution described in section 1.7(b)(l)(B) in the district in which the bank is located to cover the costs of making premium payments under part E of title V. The assessment on any such association or other financing institution for any csdendar year shall be computed on the same basis as is used to compute the premium payment and shall not exceed the sum of— "(1) the annual average principal outstanding for such year on loans made by the association, or on loans made by the other financing institution and discounted with the Farm Credit Bank, that are in accrual status, multiplied by 0.0015; and

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