Page:United States Statutes at Large Volume 110 Part 1.djvu/198

 110 STAT. 174 PUBLIC LAW 104-105—FEB. 10, 1996 "(5) LOAN. — "(A) IN GENERAL.— Subject to subparagraph (B), the"; and (2) by adding at the end the following: "(B) EXCLUSION FOR LOANS DESIGNATED FOR SALE INTO SECONDARY MARKET. — "(i) IN GENERAL.— Except as provided in clause (ii), the term 'loan' does not include a loan made on or after the date of enactment of this subparagraph that is designated, at the time the loan is made, for sale into a secondary market, "(ii) UNSOLD LOANS. — "(I) IN GENERAL.— Except as provided in subclause (II), if a loan designated for sale under clause (i) is not sold into a secondary market during the 180-day period that begins on the date . of the designation, the provisions of this section and sections 4.14, 4.14B, 4.14C, 4.14D, and 4.36 that would otherwise apply to the loan in the absence of the exclusion described in clause (i) shall become effective with respect to the loan. "(II) LATER SALE.—If a loan described in subclause (I) is sold into a secondary market after the end of the 180-day period described in subclause (I), subclause (I) shall not apply with respect to the loan beginning on the date of the sale.", (b) BORROWERS' RIGHTS FOR POOLED LOANS. — The first sentence of section 8.9(b) of the Farm Credit Act of 1971 (12 U.S.C. 2279aa- 9(b)) is amended by inserting "(as defined in section 4.14A(a)(5))" after "application for a loan". SEC. 209. FORMATION OF ADMINISTRATIVE SERVICE ENTITIES. Part E of title IV of the Farm Credit Act of 1971 is amended by inserting after section 4.28 (12 U.S.C. 2214) the following: 12 USC 2214a. "SEC. 4.28A. DEFINITION OF BANK. "In this part, the term 'bank' includes each association operating under title II.". SEC. 210. JOINT MANAGEMENT AGREEMENTS. The first sentence of section 5.17(a)(2)(A) of the Farm Credit Act of 1971 (12 U.S.C. 2252(a)(2)(A)) is amended by striking "or management agreements". SEC. 211. DISSEMINATION OF QUARTERLY REPORTS. Section 5.17(a)(8) of the Farm Credit Act of 1971 (12 U.S.C. 2252(a)(8)) is amended by inserting after "except that" the following: "the requirements of the Farm Credit Administration governing the dissemination to stockholders of quarterly reports of System institutions may not be more burdensome or costly than the requirements applicable to national banks, and". 12 USC 2252 SEC. 212. REGULATORY REVIEW. (a) FINDINGS.— Congress finds that— (1) the Farm Credit Administration, in the role of the Administration as an arms-length safety and soundness regu-

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