12 U.S.C. § 2243 - Powers of Board

• Cite as: 12 U.S.C. § 2243

The Board shall manage and administer, and establish policies for, the Farm Credit Administration. It-

(1) shall approve the rules and regulations for the implementation of this chapter not inconsistent with its provisions;

(2) shall provide for the examination of the condition of, and general regulation of the performance of the powers, functions, and duties vested in, each institution of the Farm Credit System;

(3) shall provide for the performance of all the powers and duties vested in the Farm Credit Administration; and

(4) may require such reports as it deems necessary from the institutions of the Farm Credit System.

Cite as 12 U.S.C. § 2243

Source: Pub. L. 92-181, title V, §5.9, Dec. 10, 1971, 85 Stat. 619; Pub. L. 99-205, title II, §201(1), Dec. 23, 1985, 99 Stat. 1689; Pub. L. 100-233, title VIII, §805(w), Jan. 6, 1988, 101 Stat. 1716.

Notes from the Office of Law Revision Counsel

current through 7/7/2021

EDITORIAL NOTES

AMENDMENTS

1988-Pub. L. 100-233 struck out "; civil proceedings" in section catchline.

1985- Pub. L. 99-205 substituted requirement that the Board manage and administer, and establish policies for, the Farm Credit Administration for former requirement that the Federal Farm Credit Board establish the general policy for the guidance of the Farm Credit Administration, including matters of broad and general supervisory, advisory, or policy nature; incorporated existing text in provisions designated cls. (1) to (4); substituted in cl. (2) "general regulation" for "general supervision"; and struck out last sentence which read as follows: "The Board shall function as a unit without delegating any of its functions to individual members, but may appoint committees and subcommittees for studies and reports for consideration by the Board. It shall not operate in an administrative capacity."