Title 12 — Banks and BankingRelease 119-73
§2147 Patronage pools
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER III— - BANKS FOR COOPERATIVES › Part Part B— - National Banks for Cooperatives › § 2147
Summary
The bank may, under rules set by its board, for 3+ years from 1/6/1988 create separate pools of loans for eligible borrowers in each farm credit district as they existed on that date, and it must fairly allocate the revenues, expenses, and net savings among those pools.
Full Legal Text
Title 12, §2147
Banks and Banking — Source: USLM XML via OLRC
Under such terms and conditions as may be determined by its board of directors, the consolidated bank may—
(1)for a period of at least 3 years following January 6, 1988, establish separate patronage pools consisting of loans to eligible borrowers located in each constituent farm credit district (as such district existed on January 6, 1988); and
(2)allocate revenues, expenses, and net savings among such pools on an equitable basis.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2147
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73