Title 12, Banks and BankingRelease 119-102
§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
Starting January 6, 1989, every System bank must be insured and subject to this part. Banks that are authorized to open or that result from a merger are insured when authorized or formed.
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
Aug 21, 2026
Release point: 119-102