Title 12 — Banks and BankingRelease 119-73

§2269 Further penalties

Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER V— - FARM CREDIT ADMINISTRATION ORGANIZATION › Part Part C— - Enforcement Powers of Farm Credit Administration › § 2269

Last updated Apr 6, 2026|Official source

Summary

If a person has a final, active order against them under sections 2264 or 2265 and then takes part in running that System institution, or tries to get, move, or use voting rights (like proxies or consents), or without written permission from the Farm Credit Administration votes for a director or serves as a director, officer, or employee of any System institution, they can be fined up to $5,000, jailed for up to one year, or both, if convicted.

Full Legal Text

Title 12, §2269

Banks and Banking — Source: USLM XML via OLRC

Any director or officer, or former director or officer of a System institution, or any other person, against whom there is outstanding and effective any notice or order (which is an order which has become final) served upon such director, officer, or other person under section 2264 or 2265 of this title, and who (1) participates in any manner in the conduct of the affairs of the institution involved, or directly or indirectly solicits or procures, or transfers or attempts to transfer, or votes or attempts to vote, any proxies, consents, or authorizations in respect of any voting rights in such institution, or (2) without the prior written approval of the Farm Credit Administration, votes for a director, serves or acts as a director, officer, or employee of any System institution, shall upon conviction be fined not more than $5,000 or imprisoned for not more than one year, or both.

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Section effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as an

Effective Date

of 1985 Amendment note under section 2001 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 2269

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73