12 U.S.C. § 2243

Powers of Board

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The Board shall manage and administer, and establish policies for, the Farm Credit Administration. It—(1) shall approve the rules and regulations for the implementation of this chapter not inconsistent with its provisions;(2) shall provide for the examination of the condition of, and general regulation of the performance of the powers, functions, and duties vested in, each institution of the Farm Credit System;(3) shall provide for the performance of all the powers and duties vested in the Farm Credit Administration; and(4) may require such reports as it deems necessary from the institutions of the Farm Credit System.(Pub. L. 92–181, title V, § 5.9, Dec. 10, 1971, 85 Stat. 619; Pub. L. 99–205, title II, § 201(1), Dec. 23, 1985, 99 Stat. 1689; Pub. L. 100–233, title VIII, § 805(w), Jan. 6, 1988, 101 Stat. 1716.)Editorial NotesAmendments

1988—Pub. L. 100–233 struck out “; civil proceedings” in section catchline.

1985—Pub. L. 99–205 substituted requirement that the Board manage and administer, and establish policies for, the Farm Credit Administration for former requirement that the Federal Farm Credit Board establish the general policy for the guidance of the Farm Credit Administration, including matters of broad and general supervisory, advisory, or policy nature; incorporated existing text in provisions designated cls. (1) to (4); substituted in cl. (2) “general regulation” for “general supervision”; and struck out last sentence which read as follows: “The Board shall function as a unit without delegating any of its functions to individual members, but may appoint committees and subcommittees for studies and reports for consideration by the Board. It shall not operate in an administrative capacity.”

Statutory Notes and Related SubsidiariesEffective Date of 1985 Amendment

Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title.

Interim Implementation of 1985 Amendment

For provisions authorizing interim implementation by Governor of Farm Credit Administration of amendments to this section by Pub. L. 99–205, see section 402 of Pub. L. 99–205, set out as a note under section 2241 of this title.

Notes of Decisions

Cited in 6 cases, 1983–1992 · leading case: DeLaigle v. Federal Land Bank of Columbia

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DeLaigle v. Federal Land Bank of Columbia (1983) gasd · cites it 2× “” The loan servicing techniques that Federal land banks may provide — according to 12 U.S.C. § 2019 (1976) —are subject to the regulations of the Farm Credit Administration.”

Bowling v. Block (1985) ohsd · cites it 2× “12 U.S.C. §§ 2243 , 2252. In their amended complaint, plaintiffs sweepingly allege that the Administration has failed in its duties to implement the “avowed intent and purposes of the Farm Credit Act.”

Grant v. Federal Land Bank of Jackson (1990) lactapp · cites it 2× “12 U.S.C. § 2243 . The chairman of the FCA Board is the chief executive officer of the FCA.”

Farmers Production Credit Ass'n v. Johnson (1986) ohio “) Conversely, as noted by the DeLaigle court at 1437: “* * * [T]he Federal Farm Credit Board issued the regulations in question in this case, pursuant to the authority specified in the statutory section labelled ‘Powers of the Federal Farm Credit Board,’ 12 U.S.C. § 2243 (1976).…”

Federal Farm Credit Banks Funding Corp. v. Farm Credit Administration (1990) vaed · cites it 3× “12 U.S.C. § 2243 (1988). The regulations also provide that the Board must prescribe rules and regulations.”

Colorado Springs Production Credit Ass'n v. Farm Credit Administration (1992) cadc “See 12 U.S.C. §§ 2243 , 2252. Beneath the Administration were the farm credit banks themselves, organized into twelve districts along geographical lines, and divided within each district between a Federal Land Bank, a Federal Intermediate Credit Bank, and a Bank for Cooperatives.”

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