12 U.S.C. § 2207

Current through P.L. 118-59 (published on www.congress.gov on 05/07/2024)

Section 2207 - Young, beginning, and small farmers and ranchers

(a) Under policies of the Farm Credit Bank board, each association shall prepare a program for furnishing sound and constructive credit and related services to young, beginning, and small farmers and ranchers. Such programs shall assure that such credit and services are available in coordination with other institutions of the Farm Credit System serving the territory and with other governmental and private sources of credit. Each program shall be subject to review and approval by the supervising bank.

(b) The Farm Credit Bank for each district shall annually obtain from associations under its supervision reports of activities under programs developed pursuant to subsection (a) and progress toward program objectives. On the basis of such reports, the bank shall provide to the Farm Credit Administration an annual report summarizing the operations and achievements in its district under such programs.

12 U.S.C. § 2207

Pub. L. 92-181, title IV, §4.19, as added Pub. L. 96-592, title IV, §403, Dec. 24, 1980, 94 Stat. 3446; amended Pub. L. 100-399, title IX, §901(i), (j), Aug. 17, 1988, 102 Stat. 1007; Pub. L. 115-334, title V, §5411(25), Dec. 20, 2018, 132 Stat. 4682.

EDITORIAL NOTES

AMENDMENTS2018-Subsec. (a). Pub. L. 115-334 struck out "district" before "Farm Credit Bank board" and "Federal land bank association and production credit" before "association shall prepare" and substituted "institutions" for "units". 1988-Subsec. (a). Pub. L. 100-399, §901(i), inserted "Farm Credit Bank" after "district".Subsec. (b). Pub. L. 100-399, §901(j), substituted "The Farm Credit Bank for each district" for "The Federal land bank and the Federal intermediate credit bank for each district", "under its supervision" for "under their supervision", "subsection (a)" for "subsection (a) of this section", "the bank shall" for "the banks shall", "an annual report" for "a joint annual report", and "achievements in its district" for "achievements in their district".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100-399 effective immediately after amendment made by section 401 of Pub. L. 100-233 which was effective 6 months after Jan. 6, 1988, see section 1001(b) of Pub. L. 100-399 set out as a note under section 2002 of this title.

credit

The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.