12 U.S.C. § 2121

Establishment; titles; branches

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The banks for cooperatives established pursuant to sections 2 and 30 of the Farm Credit Act of 1933, as amended, shall continue as federally chartered instrumentalities of the United States. The Farm Credit Administration shall approve amendments consistent with this chapter to charters and organizational certificates of banks for cooperatives. Unless an existing bank for cooperatives is merged with another bank, there shall be a bank for cooperatives in each farm credit district. A bank for cooperatives may include in its title the name of the city in which it is located or other geographical designation. When authorized by the Farm Credit Administration each bank for cooperatives may establish such branches or other offices as may be appropriate for the effective operation of its business.

Notes of Decisions

Cited in 8 cases, 1978–2012 · leading case: Cities Service Co. v. Governor

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Cities Service Co. v. Governor (1981) md · cites it 2× “bsection (i) is as follows: "(i) For the purpose of subsections (b) and (c) of this section, a retail service station may not include facilities which were both owned and operated on January 1, 1979 by an agricultural cooperative association which a bank for cooperatives…”

Director of Revenue of Missouri v. CoBank ACB (2001) scotus “” 12 U. S. C. §2121 . We have held, in addressing state taxation of contractors conducting business with the United States, that an instrumentality is entitled to implied tax immunity only when it is “so closely connected to the Government that the two cannot realistically be…”

Baltimore Bank for Cooperatives v. Farmers Cheese Cooperative and Commonwealth of Pennsylvania Milk Marketing Board (1978) ca3 “The Bank is a federal instrumentality created by the Farm Credit Act of 1933, as amended, 12 U.S.C. § 2121 , and by virtue of its office in Baltimore, Maryland, is a statutory resident of that state.”

Starr International Co. v. Federal Reserve Bank (2012) nysd “, 12 U.S.C. § 2121 (banks for farm cooperatives), but it has not done so with respect to Federal Reserve Banks.”

James v. Federal Reserve Bank of New York (2007) nyed “2d 830 (2001) (citing 12 U.S.C. § 2121 , conferring federal instrumentality status on banks for farm cooperatives).”

In Re Cooperativa Cafeteros De Puerto Rico (1982) prb “The discounted value or present value appears to us to be a proper and fair method of determining “fair market value”. Furthermore, to determine such value one must assume an interest rate, and the rate in fairness must be the rate prevailing at the time.”

Farm Credit Services of Mid-America v. Indiana Department of State Revenue (1997) indtc “§§ 2011 , 2023 (West 1989) (Farm Credit Banks); 12 U.S.C.A. §§ 2121 , 2134 (West 1989) (Banks for Cooperatives).”

In re the Appeal of Farm Credit Services (2001) nd “§ 2091 (1994) (federal land bank associations); 12 U.S.C. § 2121 (1994) (banks for cooperatives).”

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