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PUBLIC LAW 89-525-AUG. 2, 1966

[80 STAT.

FEDERAL L A N D B A N K S

39 Stat. 370.

48 Stat. 42.

SEC. 2. Title I of the Federal F a r m Loan Act, as amended, is amended by inserting immediately before the period at the end of paragraph First of section 12 thereof (12 U.S.C. 771 First) and immediately before the period at the end of the first sentence and immediately before the second comma in the second sentence of paragraph Second of section 13 thereof (12 U.S.C. 781 Second) the following: "and which mortgages may include farm land within other farm credit districts to the extent authorized by the F a r m Credit Administration". FEDERAL I N T E R M E D I A T E C R E D I T BANKS

70 Stat. 663.

42 Stat. 1458.

SEC. 3. Title II of the Federal F a r m Loan Act, as amended, is amended— (a) in section 202(a) thereof (12 U.S.C. 1031), by deleting "and" at the end of paragraph (2), by substituting "; and" for the period at the end of paragraph (3) and by adding the following new paragraph: "(4) to purchase for investment obligations of the Federal land banks and the banks for cooperatives and, to the extent authorized by the F a r m Credit Administration, obligations of any agencies of the United States."; and (b) by changing section 208(b) thereof (12 U.S.C. 1092) to read as follows: "The F a r m Credit Administration may require reports in such form as it may specify from any or all of the Federal intermediate credit banks whenever in its judgment the same are necessary for a full and complete knowledge of its or their financial condition or operations." BANKS

49 Stat. 317.

69 Stat. 662.

FOR

COOPERATIVES

SEC. 4. (a) Sections 41 and 34 of the F a r m Credit Act of 1933, as amended (12 U.S.C. 1134c and 1134J), are each amended— (i) by striking from clause (a) in the first sentence thereof the following: ", for any of the purposes and subject to the conditions and limitations set forth in such Act, as amended"; and (ii) by adding the following sentence immediately after the first sentence thereof: "Loans to cooperative associations made by any bank for cooperatives shall bear such rates of interest as the board of directors of the bank shall from time to time determine with the approval of the F a r m Credit Administration, but in no case snail the rate of interest exceed 6 per centum per annum on the unpaid principal of a loan.", (b) The Agricultural Marketing Act, as amended, is amended by deleting subsection (a) of section 8 thereof (12 U.S.C. 1141f (a)). F A R M CREDIT BOARD

50 Stat. 705.

ELECTIONS

SEC. 5. The F a r m Credit Act of 1937, as amended, is amended by substituting "sixty" for "thirty" in the last sentence of section 5(e) thercof (12 U.S.C. 640e) and in the third last sentence of section 5(f) thereof (12 U.S.C. 640f) and by inserting the following immediately before the period at the end of each of such sentences: ", except that

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