Title 12, Banks and BankingRelease 119-102

§2076a Liens on Stock

Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER II — FARM CREDIT ASSOCIATIONS › Part A — Production Credit Associations › § 2076a

Last updated Aug 21, 2026|Official source

Summary

Each production credit association must have the first claim on the stock and participation certificates it issues, on its allocated surplus, and on investments in its equity reserve to secure any debts of the owners of those capital investments. For equity reserves, that claim also covers charges when association losses are greater than its reserves and surpluses, but it does not apply to certificates held by other Farm Credit System institutions.

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

Aug 21, 2026

Release point: 119-102