Title 12 — Banks and BankingRelease 119-73
§2279a–2 Powers of merged banks
Title 12 › Chapter CHAPTER 23— - FARM CREDIT SYSTEM › Subchapter SUBCHAPTER VII— - RESTRUCTURING OF SYSTEM INSTITUTIONS › Part Part A— - Merger of Banks Within a District › § 2279a–2
Summary
When banks join to form a merged bank, the new bank gets all the powers and must follow all the responsibilities of the banks that joined, unless this subchapter says otherwise. The Farm Credit Administration must make rules that explain how those powers and responsibilities are combined and, when needed, adjusted to work together.
Full Legal Text
Title 12, §2279a–2
Banks and Banking — Source: USLM XML via OLRC
(a)Except as otherwise provided in this subchapter, a merged bank shall have all of the powers granted to, and shall be subject to all of the obligations imposed on, any of the constituent entities of the merged bank.
(b)The Farm Credit Administration shall issue regulations that establish the manner in which the powers and obligations of the banks that form the merged bank are consolidated, and to the extent necessary, reconciled in the merged bank.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2279a–2
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73