Title 12 — Banks and BankingRelease 119-73
§2076a Liens on stock
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER II— - FARM CREDIT ASSOCIATIONS › Part Part A— - Production Credit Associations › § 2076a
Summary
Production credit associations have first claim on capital to secure debts, except when held by other FCS institutions. Equity reserve claims cover losses beyond reserves and surplus.
Full Legal Text
Title 12, §2076a
Banks and Banking — Source: USLM XML via OLRC
Except with regard to stock or participation certificates held by other Farm Credit System institutions, each production credit association shall have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Prior Provisions
A prior section 2.6 of Pub. L. 92–181 was renumbered section 2.7 and is classified to section 2077 of this title.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective Jan. 7, 1988, see section 1861(d) of Pub. L. 101–624, set out as an
Effective Date
of 1990 Amendment note under section 2001 of Title 7, Agriculture.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2076a
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73