Title 12, Banks and BankingRelease 119-102
§2147 Patronage Pools
Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER III — BANKS FOR COOPERATIVES › Part B — National Banks for Cooperatives › § 2147
Summary
The bank's board may set rules to create separate loan pools for each farm credit district as they were on January 6, 1988, for at least 3 years after that date. The board must divide revenues, expenses, and net savings among those pools fairly.
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
Aug 21, 2026
Release point: 119-102