12 C.F.R. § 611.1040

Creation of new associations

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Any application for the issuance of a charter to a new production credit association or Federal land bank association must meet the requirements of sections 2.0 or 2.10, respectively, of the Act. Any application for the issuance of a charter for an agricultural credit association must meet the requirements of section 2.0 of the Act.

[53 FR 50393, Dec. 15, 1988, as amended at 80 FR 51116, Aug. 24, 2015]

Notes of Decisions

Cited in 2 cases, 1997–2007 · leading case: Comptroller of the Treasury v. Colonial Farm Credit, ACA, 918 A.2d 514 (Md. Ct. Spec. App. 2007).

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Comptroller of the Treasury v. Colonial Farm Credit, ACA, 918 A.2d 514 (Md. Ct. Spec. App. 2007). “g„ 12 C.F.R. § 611.1040 . Among the associations within the Farm Credit System are Federal Land Bank Associations (“FLBAs”) and Production Credit Associations (“PCAs”).”

Farm Credit Servs. of Mid-Am. v. Indiana Dep't of State Revenue, 677 N.E.2d 645 (Ind. T.C. 1997). “1 The Farm Credit Administration refers to the resulting entity as an Agricultural Credit Association (“ACA”), 12 C.F.R. § 611.1040 (1996), and the statute provides that such an association “possesses all powers granted under [chapter 23] to the associations forming the merged…”

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