Title 12 — Banks and BankingRelease 119-73
§2277a–3 Commencement of insurance
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER V— - FARM CREDIT ADMINISTRATION ORGANIZATION › Part Part E— - Farm Credit System Insurance Corporation › § 2277a–3
Summary
Every System bank must become an insured System bank starting on January 1, 1989, or 12 months after January 6, 1988, whichever is later. A System bank that is allowed to start or restart operations under a part of this chapter is an insured System bank from the moment it gets that permission. If insured System banks merge or consolidate, the new bank is an insured System bank.
Full Legal Text
Title 12, §2277a–3
Banks and Banking — Source: USLM XML via OLRC
Effective beginning on January 1, 1989, or 12 months after January 6, 1988, whichever is later, each System bank shall be an insured System bank and shall be subject to this part. Each System bank that is authorized to commence or resume operations under a subchapter of this chapter shall be an insured System bank from the time of such authorization. A bank resulting from the merger or consolidation of insured System banks shall be an insured System bank.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2277a–3
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73