Page:United States Statutes at Large Volume 42 Part 1.djvu/1490

 srxrrsnvnnru concnnss. sm. rv. GH. 252. wze. 1463 anty, notes, drafts, or bills of exchange, and to accept drafts or bills of exchange, which- (A) Are issued or drawn for an agricultural urpose th I”°°d,,,p,,%°' mm proceeds of which have been or are to be used forpan agriciiillturail lump l pu se· § Have a maturity, at the time of discount, purchase, or accept- m;‘°,,§,,“§f_¥_,{*,&°°‘°°°°· ance not exceeding mne months; and ` (C) Are secure at the time of discount, purchase, or accept-- ,,,,,s°°“'°‘*,,,m,,,,"Y “,“°,, jg ance by warehouse receiolts or other like documents conveying or vr 1iv¤ stock fiittmins securing title to nonperis able and readilty marketable agricultural M m°rm' products, or by chattel mortgages or other like instruments conferring a first and paramount lien upon live stock which is bei fattened for market. ng (2) To make advances upon or to discount, rediscount, or pur- ,u'§§él°"l,,.,?{‘,,}‘,,""’°‘§ chase, and to sell or negotiatgh with or without its indorsement or guaranty notes secure by attel mortgages conferring a first herds. and parainount hen upon maturing or breeding live stock or dairy herds, and having a maturity at the time of discount, rediscount, or urchase not exceeding t ree years. (Iii) To subscribe for, acquire, own, buy, sell, and otherwise deal  in Fwd in Treasury certificates of indebtedness, bonds or other obligations of the United States to such extent as its board of directors may determine. (4) To act, when rgluested by the Secretary of the Treasury, ,,;'¥;°g"$d°§t{S§°““t as fiscal agent of the nited States, and to perform such services as the Secretary of the Treasury may recguire in connection with the issue, sale, redemption or repurchase o bonds, notes Treasury certificates of indebtedness, or other obligations of the United States. (5) To purchase, hold, acquire, and dispose of shares of the capi— ,¤g,,*$‘.§‘,li”°0°&k,¤i'.},,”Y tal stock of any corporation organized under the provisions of sec- ?°"·P·1 tion 207, of this title, in an amount not to exceed at any time 20 per centum of its paid in and unimpaired capital and surplus. _ (6) To purchase, hold, and convey real estate for the following m},‘,§§,_°““°° l’°‘d*“€S purposes and for no others: _ _ _ _ (A) Siich as shall be necemary for its accommodation in the trans- F°' l’“’“‘°“ ‘“°· ction of its business. 3 (B) Such as shall be mprtgaged todit in good faith by way of U“d°' ”‘°'°“"g°‘ securit for debts previous y contracte . _ (C) ySuch as shall be conveyed to it in satisfaction of loans or C°°v°y°M°f d°m` advances made or debts previously contracted in the course of its d l1]1gS· . . €’(D) Such as it shall purchase at sales under judgments, decrees, or miiiiigiiidd °i M8 mortgages held by the corporation or shall purchase to secure debts due to it. (7) To act as custodian, trustee, or agent for holders of notes, n¤iii·i¤i»i¤i>fi•;°iit°m.‘m drafts, or bills of exchange sold or negotiated under paragraphs (1) and (2)I_ of subdivision (a) of this section or under section 207. ,,,u°d,bmmS’m_ (8) o issue, subject to such regulations as the Comptroller of the Currencv may prescribe, collateral trust notes or debentures, with a swam t be _ •» . · Y 0 maturity not exceeding three years, and to pledge as security for praigeamr. such notes or debentures any notes, drafts, bills of exchange, or other- ,,,,,,,],,,,0,,, BS ,0 securities held b the corporation under the terms of this title, The foggggféllstmmmw regulations of tlie Comptroller of the Currency may prescribe the P ’ ‘ form of notes or debentures, and of notes, drafts, bills of exchange, warehouse receipts, chattel mortgages, or otherunstruments which may be pledged as security therefor, the provisions which may be made with regard to release, substitution, or exchange of such securities, and with regard to protection, supervision, inspection, and reinspection of the agricultural commodities or hve stock pledged or mortgaged as security therefor.