Title 12, Banks and BankingRelease 119-73not60
§2279a–2 Powers of Merged Banks
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter VII— RESTRUCTURING OF SYSTEM INSTITUTIONS › Part A— Merger of Banks Within a District › § 2279a–2
Summary
A merged bank must have the same powers and follow the same duties that any of the banks that formed it had, unless this subchapter says otherwise. The Farm Credit Administration must write rules that explain how to combine those powers and duties and, when needed, how to sort out any differences among them.
Full Legal Text
Title 12, §2279a–2
Banks and Banking, Source: USLM XML via OLRC
(a)Except as otherwise provided in this subchapter, a merged bank shall have all of the powers granted to, and shall be subject to all of the obligations imposed on, any of the constituent entities of the merged bank.
(b)The Farm Credit Administration shall issue regulations that establish the manner in which the powers and obligations of the banks that form the merged bank are consolidated, and to the extent necessary, reconciled in the merged bank.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2279a–2
Title 12, Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60