Title 12, Banks and BankingRelease 119-73not60

§2279aa–14 Federal Jurisdiction

Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter VIII— AGRICULTURAL MORTGAGE SECONDARY MARKET › Part A— Establishment and Activities of Federal Agricultural Mortgage Corporation › § 2279aa–14

Last updated Apr 3, 2026|Official source

Summary

The Corporation is treated like a federal agency for certain court rules. Any civil lawsuit involving the Corporation is handled as a federal case and goes to a U.S. district court, with federal common law applying when it fits. If sued in state or other non-district court, the Corporation can move the case to federal court before trial without posting a bond. Courts may not attach or seize the Corporation’s property before a final judgment is entered.

Full Legal Text

Title 12, §2279aa–14

Banks and Banking, Source: USLM XML via OLRC

Notwithstanding section 1349 of title 28 or any other provision of law:

(1)The Corporation shall be considered an agency under section 1345 and 1442 of such title.

(2)All civil actions to which the Corporation is a party shall be deemed to arise under the laws of the United States and, to the extent applicable, shall be deemed to be governed by Federal common law. The district courts of the United States shall have original jurisdiction of all such actions, without regard to amount of value.

(3)Any civil or other action, case, or controversy in a court of a State or any court, other than a district court of the United States, to which the Corporation is a party may at any time before trial be removed by the Corporation, without the giving of any bond or security—

(A)to the District Court of the United States for the district and division embracing the place where the same is pending; or

(B)if there is no such district court, to the District Court of the United States for the district in which the principal office of the Corporation is located;

(4)No attachment or execution shall be issued against the Corporation or any of the property of the Corporation before final judgment in any Federal, State, or other court.

Reference

Citations & Metadata

Citation

12 U.S.C. § 2279aa–14

Title 12, Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60