Title 12, Banks and BankingRelease 119-73not60
§2277a–3 Commencement of Insurance
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter V— FARM CREDIT ADMINISTRATION ORGANIZATION › Part E— Farm Credit System Insurance Corporation › § 2277a–3
Summary
System banks must be insured and follow this part starting on the later of January 1, 1989, or 12 months after January 6, 1988. If a System bank is given authorization to begin or resume operations under the chapter, it becomes insured as soon as it is authorized. If insured System banks merge or consolidate, the resulting bank is also an insured System bank.
Full Legal Text
Title 12, §2277a–3
Banks and Banking, Source: USLM XML via OLRC
Effective beginning on January 1, 1989, or 12 months after January 6, 1988, whichever is later, each System bank shall be an insured System bank and shall be subject to this part. Each System bank that is authorized to commence or resume operations under a subchapter of this chapter shall be an insured System bank from the time of such authorization. A bank resulting from the merger or consolidation of insured System banks shall be an insured System bank.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2277a–3
Title 12, Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60