Title 12, Banks and BankingRelease 119-73not60
§2279a–3 Capitalization
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter VII— RESTRUCTURING OF SYSTEM INSTITUTIONS › Part A— Merger of Banks Within a District › § 2279a–3
Summary
Each merged bank must use its bylaws and the Farm Credit Administration’s rules to set how the bank is funded, how bank stock is handled, and how earnings are shared.
Full Legal Text
Title 12, §2279a–3
Banks and Banking, Source: USLM XML via OLRC
In accordance with section 2154a of this title, each merged bank shall provide, through bylaws and subject to Farm Credit Administration regulations, for the capitalization of the bank and the manner in which bank stock shall be issued, held, transferred, and retired and bank earnings distributed.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Prior Provisions
A prior section 2279a–3, Pub. L. 92–181, title VII, § 7.3, as added Pub. L. 100–233, title IV, § 416, Jan. 6, 1988, 101 Stat. 1645, related to issuance of shares of capital stock, prior to repeal by Pub. L. 100–399, title IV, § 408(d), Aug. 17, 1988, 102 Stat. 1001.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as an
Effective Date
of 1988 Amendment note under section 2002 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2279a–3
Title 12, Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60