Page:United States Statutes at Large Volume 102 Part 1.djvu/1035

 PUBLIC LAW 100-399—AUG. 17, 1988

102 STAT. 997

"(2) 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 nonaccrual status, multiplied by 0.0025.". (1) Section 1.15 is amended— (1) by inserting a comma after "therefrom" the first place it appears; and (2) by striking out "742(a)" and inserting in lieu thereof "3124". (m) Section 2.00)) is amended— (1) in paragraph (1), by striking out "title" and inserting in lieu thereof "subtitle"; (2) in paragraph (3)(B), by striking out "part" and inserting in lieu thereof "subtitle"; (3) in subparagraphs (B) and (C) of paragraph (3), by striking out "the" the first place it appears; and (4) in paragraph (8)— (A) by striking out "or by approval of bylaws of the association"; and (B) by amending subparagraph (D) to read as follows: "(D) approve amendments to the charter of the association.", (n) Section 2.1 is amended by striking out the sixth comma. (o) Section 2.2 is amended— (1) by amending paragraph (16) to read as follows: "(16) 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 and employees; "(ii) acquire, hold, and transfer property; "(iii) conduct general business; and "(iv) exercise and enjoy the privileges granted to it by law;"; (2) in paragraph (17)— (A) by striking out "elect by the board of directors of the association" and insert in lieu thereof "provide by its board of directors for"; and (B) by striking out "be elected or designated" and inserting in lieu thereof "serve as"; (3) in paragraph (19), by striking out "and"; (4) in paragraph (20), by striking out the period and inserting in lieu thereof "; and"; and (5) by adding at the end the following: "(21) operate as an originator and become certified as a certified facility under title VIIL". (p) Section 2.40t)Xl) is amended— (1) by striking out "title" and inserting in lieu thereof "subtitle"; and (2) by inserting "or" before "planned". (q) Section 2.4 is amended by adding at the end the following: "(d) SPECIAL DISTRICT RULE.— "(1) PROVISION OF CREDIT AND TECHNICAL ASSISTANCE OUTSIDE

SERVICE TERRITORY.—Notwithstanding any territorial limitation in the charter of a production credit association located in a district in which there are only two such associations, the Farm

12 USC 2023.

12 USC 2071.

12 USC 2072. 12 USC 2073.

12 USC 2075.

�