12 U.S.C. § 2143: Credit delivery office

Summary

If the bank's board finds that most of the bank’s loans are concentrated in one or more districts, it must base that finding on the district borders that existed right before the bank was set up under section 413 of the Agricultural Credit Act of 1987. The bank may then consider creating regional service centers to handle those concentrated loans.

Title 12, §2143

Banks and Banking, Source: USLM XML via OLRC

On a determination by the board of directors of the consolidated bank that the bank’s loan portfolio is concentrated in any one district or districts (according to the district boundaries in effect immediately prior to the effective date of the establishment of the bank under section 413 of the Agricultural Credit Act of 1987), the bank may consider the creation of regional service centers to accommodate such loan concentrations.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 413 of the Agricultural Credit Act of 1987, referred to in text, is section 413 of Pub. L. 100–233, which is set out as a note under section 2121 of this title.

Amendments

1988—Pub. L. 100–399 substituted “consolidated bank” for “United Bank for Cooperatives or the National Bank for Cooperatives” and “establishment of the bank under section 413 of the Agricultural Credit Act of 1987” for “merger”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1988 AmendmentAmendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title.

§2143 Credit Delivery Office