12 U.S.C. § 2214
State laws
State and other laws shall apply to corporations organized pursuant to this part to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: Provided, however, That to the extent that sections 2023, 2098, and 2134 of this title may exempt banks or associations of the Farm Credit System from taxation, such exemptions, other than with respect to franchise taxes, shall not extend to corporations organized pursuant to this part.
Notes of Decisions
Cited in 3
cases, 1985–1994 · leading case: State Ex Rel. Farm Credit Bank v. Dist. Court of the Third Jud. Dist., 881 P.2d 594 (Mont. 1994).
State Ex Rel. Farm Credit Bank v. Dist. Court of the Third Jud. Dist., 881 P.2d 594 (Mont. 1994). “] to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: Provided, however, That to the extent that sections 2023, 2098, and 2134 may exempt banks or associations of the Farm Credit System from taxation, such…”
Birbeck v. S. New England Prod. Credit Ass'n, 606 F. Supp. 1030 (D. Conn. 1985). “10 Glaring evidence that Congress did not intend that federal law preempt the field with respect to federal land banks and production credit associations can be found in the 1980 Amendments to the Farm Credit Act, specifically 12 U.S.C. § 2214 , which provides that state and…”
Fed. Land Bank v. Fed. Intermediate Credit Bank, 727 F. Supp. 1055 (S.D. Miss. 1989). “The court stated: Glaring evidence that Congress did not intend that federal law preempt the field with respect to federal land banks and production credit associations can be found in the 1980 amendments to the Farm Credit Act, specifically 12 U.S.C. § 2214 , which provides…”
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