Page:United States Statutes at Large Volume 99 Part 2.djvu/602

 99 STAT. 1712 Ante, p. 1707.

PUBLIC LAW 99-205—DEC. 23, 1985 SEC. 607. Section 5.2 of the Farm Credit Act of 1971 (12 U.S.C. 2223) Is amended— (1) by striking out"; APPOINTMENT" in the caption; (2) in subsection (a)— (A) by designating the first and second sentences as paragraphs (1) and (2), respectively; and (B) by amending paragraph (2) (as so designated) to read as follows: "(2)(A) The seventh member shall be elected by the borrowers at large in a district. "(B) For purposes of this section, the term 'borrowers at large in a district* means— "(i) a voting shareholder of a Federal land bank association and a direct borrower, and a borrower through an agency, from a Federal land bank; "(ii) a voting shareholder of a production credit association; and "(iii) a voting shareholder or subscriber to the guaranty fund of a bank for cooperatives."; (3) in the second sentence of subsection (b)— (A) by striking out "and" before "in the case"; and (B) by inserting before the period at the end thereof the following: "; and in the case of an election by the borrowers at large, such notice shall be sent to all borrowers at large in the district"; and (4) by inserting after the fifth sentence of subsection (c) the following new sentence: "Each borrower at large shall be entitled to cast one vote.". Approved December 23, 1985.

LEGISLATIVE HISTORY—S. 1884 (H.R. 3792): CONGRESSIONAL RECORD, Vol. 131 (1985): Dec. 3, considered and passed Senate. Dec. 10, considered and passed House, amended. Dec. 17, Senate concurred in House amendment with amendments. Dec. 18, House concurred in Senate amendments. WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 21, No. 52 (1985): Dec. 23, Presidential statement.

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