12 U.S.C. § 2072

Board of directors

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Each production credit association shall elect from the voting members of such association, a board of directors of such number, for such terms, with such qualifications, and in such manner as may be required by the bylaws of the association, except that at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, stockholder, or agent of a System institution.

Notes of Decisions

Cited in 6 cases, 1985–1990 · leading case: Troy O. Bishop v. Federal Intermediate Credit Bank of Wichita and B.L. Hauenstein

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Troy O. Bishop v. Federal Intermediate Credit Bank of Wichita and B.L. Hauenstein (1990) ca10 “See 12 U.S.C. § 2072 (15) (repealed) (FICB may “[ajpprove .”

Clarence B. Bailey v. Federal Intermediate Credit Bank of St. Louis (1986) ca8 “Bailey, however, asserts that the absence of an express reference to removal among the Bank's enumerated powers, see 12 U.S.C. § 2072 , must indicate that Congress indeed possessed a specific intent to deny the existence of such a power.”

Ebenhoh v. Production Credit Ass'n (1988) minnctapp “, 12 U.S.C. § 2072 (14) (Supp.1988) (“[e]ach Federal intermediate credit bank * * * shall have power to * * * [djelegate to the production credit associations such functions as it may determine.”

First South Production Credit Assoc. v. Farm Credit Administration (1990) vaed “Texas FCB argues that Jackson FICB lacks standing, because its corporate powers supplied by 12 U.S.C. § 2072 have been repealed effective July 6, 1988.”

Colorado Springs Production Credit Ass'n v. Farm Credit Administration (1988) dcd “12 U.S.C. §§ 2072 , 2093, 2094, 2096. The FICBs provide funds to the PCAs through loans and sale of stock, and depend on the PCAs as the FICBs’ sole shareholders.”

Bailey v. Federal Intermediate Credit Bank (1985) mowd · cites it 3× “” 12 U.S.C. § 2072 (15). Virtually every aspect of an association’s operations are supervised and controlled by the FCA and/or credit banks.”

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