U.S. Code » Title 12 » Chapter CHAPTER 23— FARM CREDIT SYSTEM › Subchapter SUBCHAPTER II— FARM CREDIT ASSOCIATIONS › Part Part A— Production Credit Associations

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. Fed. Intermediate Credit Bank of Wichita & B.L. Hauenstein, 908 F.2d 658 (10th Cir. 1990).
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Troy O. Bishop v. Fed. Intermediate Credit Bank of Wichita & B.L. Hauenstein, 908 F.2d 658 (10th Cir. 1990). “See 12 U.S.C. § 2072 (15) (repealed) (FICB may “[ajpprove .”
Clarence B. Bailey v. Fed. Intermediate Credit Bank of St. Louis, 788 F.2d 498 (8th Cir. 1986). “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. Prod. Credit Ass'n, 426 N.W.2d 490 (Minn. Ct. App. 1988). “, 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 Prod. Credit Assoc. v. Farm Credit Admin., 729 F. Supp. 1559 (E.D. Va. 1990). “Texas FCB argues that Jackson FICB lacks standing, because its corporate powers supplied by 12 U.S.C. § 2072 have been repealed effective July 6, 1988.”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 Prod. Credit Ass'n v. Farm Credit Admin., 695 F. Supp. 15 (D.D.C. 1988). “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. Fed. Intermediate Credit Bank, 608 F. Supp. 1009 (W.D. Mo. 1985). · 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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