Page:United States Statutes at Large Volume 106 Part 5.djvu/464

 106 STAT. 4102 PUBLIC LAW 102-552—OCT. 28, 1992 Public Law 102-552 102d Congress An Act Oct. 28, 1992 [H.R. 6125] Farm Credit Banks and Associations Safety and Soundness Act of 1992. 12 USC 2001 (S note. To enhance the financial safety and soundness of the banks and associations of the Farm Credit System, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE.—T his Act may be cited as the "Farm Credit Banks and Associations Safety and Soundness Act of 1992". (b) TABLE OF CONTENTS. —The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. References to the Farm Credit Act of 1971. TITLE I—IMPROVEMENTS TO FARM CREDIT SYSTEM SAFETY AND SOUNDNESS Sec. 101. Definition of permanent capital. Sec. 102. Qualifications of Farm Credit Administration Board members. TITLE II—FARM CREDIT SYSTEM INSURANCE CORPORATION Sec. 201. Farm Credit System Insurance Corporation. Sec. 202. Statutory successor to Assistance Board agreements. Sec. 203. Use of Farm Credit Administration personnel. Sec. 204. GAO reports on risk-based insurance premiums, access to association capital, supplemental premiums, and consolidation. TITLE III—REPAYMENT OF FARM CREDIT SYSTEM DEBT OBLIGATIONS Sec. 301. Capital preservation. Sec. 302. Preferred stock. -^ Sec. 303. Systemwide repayment obligation. Sec. 304. Repayment of Treasury-paid interest. Sec. 305. Transfer of obligations from associations to banks; other matters. Sec. 306. Defaults. Sec. 307. Authority of Financial Assistance Corporation. Sec. 308. Techniccu amendments. TITLE IV—CLARIFICATION OF CERTAIN AUTHORITIES Sec. 401. Clarification of the status and powers of certain institutions of the Farm Credit System. TITLE V—MISCELLANEOUS Sec. 501. Valuation reserves of production credit associations. Sec. 502. Risk mani^ment participation authority. Sec. 503. Eqmty voting for one director of each bank for cooperatives. Sec. 504. Technical amendment. Sec. 505. Expansion of water and sewer lending authority of banks for cooperatives. Sec. 506. Eligibility to borrow from a bank for cooperatives. Sec. 507. Non-voting representative on board of Funding Corporation. Sec. 508. Repeal of prohibition against guarantee of certain instruments of indebtedness. Sec. 509. Compensation of bank directors. Sec. 510. Clarification of treatment of Farm Credit Administration operating expenses. Sec. 511. Approval of competitive charters. Sec. 512. Examinations. Sec. 513. Authority to examine System institutions.

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