Codification Pub. L. 110–234 and Pub. L. 110–246 made identical
Amendments
to this section. The
Amendments
by Pub. L. 110–234 were repealed by
section 4(a) of Pub. L. 110–246.
Prior Provisions
A prior
section 2020, Pub. L. 92–181, title I, § 1.12, Dec. 10, 1971, 85 Stat. 586; Pub. L. 96–592, title I, § 109, Dec. 24, 1980, 94 Stat. 3439, related to loans through associations or agents, prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
Amendments
2008—Subsec. (b). Pub. L. 110–246, § 5401(a), designated first sentence as par. (1), inserted heading, added par. (2), and struck out former second sentence which related to computation of the assessment on the same basis as is used to compute the premium payment and provided formula to calculate a maximum amount. 2002—Subsec. (b)(1). Pub. L. 107–171, § 5403(a)(2)(A)(i), inserted “and Government Sponsored Enterprise-guaranteed loans (as defined in
section 2277a–4(a)(4) of this title) provided for in paragraph (4)” after “government-guaranteed loans (as defined in
section 2277a–4(a)(3) of this title) provided for in paragraph (3)”. Subsec. (b)(4). Pub. L. 107–171, § 5403(a)(2)(A)(ii)–(iv), added par. (4). 1996—Pub. L. 104–105, § 215(a)(2)(C), which directed amendment of “
section 1.12(b)”, without specifying the name of the Act being amended, was executed to this section, which is
section 112 of the Farm Credit Act of 1971, to reflect the probable intent of Congress. Subsec. (b)(1). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as defined in
section 2277a–4(a)(3) of this title)” after “government-guaranteed loans”. Subsec. (b)(3). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as so defined)” after “government-guaranteed loans” in subpars. (A) and (B). 1989—Subsec. (b). Pub. L. 101–220, § 6(b)(1), inserted “, other association making direct loans under the authority provided under
section 2279b of this title,” after “production credit association”. Subsec. (b)(1). Pub. L. 101–220, § 6(b)(2)(A), inserted “funded by or” before “discounted with” and “excluding the guaranteed portions of government-guaranteed loans provided for in paragraph (3),” and struck out “and” after “multiplied by 0.0015;”. Subsec. (b)(2). Pub. L. 101–220, § 6(b)(2)(B), inserted “funded by or” before “discounted with” and substituted “0.0025; and” for “0.0025.”. Subsec. (b)(3). Pub. L. 101–220, § 6(b)(2)(C), added par. (3). 1988—Subsec. (a). Pub. L. 100–399 designated existing provision as subsec. (a), inserted heading, substituted “directors of the bank” for “directors of each district bank”, and added subsec. (b).
Statutory Notes and Related Subsidiaries
Effective Date
of 2008 AmendmentAmendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see
section 4 of Pub. L. 110–246, set out as an
Effective Date
note under
section 8701 of Title 7, Agriculture.
Effective Date
of 2002 Amendment Pub. L. 107–171, title V, § 5403(b), May 13, 2002, 116 Stat. 351, provided that: “The
Amendments
made by this section [amending this section and
section 2277a–4 and
2277a–5 of this title] shall apply with respect to determinations of premiums for calendar year 2002 and for any succeeding calendar year, and to certified statements with respect to such premiums.”
Effective Date
of 1989 Amendment Pub. L. 101–220, § 6(c), Dec. 12, 1989, 103 Stat. 1880, provided that: “The
Amendments
made by subsections (a) and (b) [amending
section 2020, 2277a–4, 2277a–8, and 2277a–10 of this title] shall be effective for insurance premiums due to the Farm Credit System Insurance Corporation under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) on or after January 1, 1990, based on the loan volume of each bank for each calendar year beginning with calendar year 1989, and shall be effective for the calculation of the initial premium payment required under
section 5.56(c) of the Farm Credit Act of 1971 (12 U.S.C. 2277a–5(c)).”
Effective Date
of 1988 AmendmentAmendment 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.
Effective Date
Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.