Title 12 — Banks and BankingRelease 119-73not60
§2147 Patronage Pools
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter III— BANKS FOR COOPERATIVES › Part B— National Banks for Cooperatives › § 2147
Summary
Board approval lets the bank create pools of loans for each farm credit district on January 6, 1988, for at least 3 years and divide revenues, expenses, and net savings.
Full Legal Text
Title 12, §2147
Banks and Banking — Source: USLM XML via OLRC
Under such terms and conditions as may be determined by its board of directors, the consolidated bank may—
(1)for a period of at least 3 years following January 6, 1988, establish separate patronage pools consisting of loans to eligible borrowers located in each constituent farm credit district (as such district existed on January 6, 1988); and
(2)allocate revenues, expenses, and net savings among such pools on an equitable basis.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2147
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60