12 U.S.C. § 2261

Cease and desist proceedings

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(a) If, in the opinion of the Farm Credit Administration, any institution in the Farm Credit System, or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such an institution is engaging or has engaged, or the Farm Credit Administration has reasonable cause to believe that the institution or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution is about to engage, in an unsafe or unsound practice in conducting the business of such institution, or is violating or has violated, or the Farm Credit Administration has reasonable cause to believe that the institution or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution is about to violate, a law, rule, or regulation, or any condition imposed in writing by the Farm Credit Administration in connection with the granting of any application or other request by the institution or any written agreement entered into with the Farm Credit Administration, the Farm Credit Administration may issue and serve upon the institution or such director, officer, employee, agent, or other person a notice of charges in respect thereof. The notice shall contain a statement of the facts constituting the alleged violation or violations or the unsafe or unsound practice or practices, and shall fix a time and place at which a hearing will be held to determine whether an order to cease and desist therefrom should issue against the institution or the director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution. Such hearing shall be fixed for a date not earlier than thirty days nor later than sixty days after service of such notice unless an earlier or a later date is set by the Farm Credit Administration at the request of any party so served. Unless the party or parties so served shall appear at the hearing personally or by a duly authorized representative, they shall be deemed to have consented to the issuance of the cease and desist order. In the event of such consent, or if upon the record made at any such hearing, the Farm Credit Administration shall find that any violation or unsafe or unsound practice specified in the notice of charges has been established, the Farm Credit Administration may issue and serve upon the institution or the director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution an order to cease and desist from any such violation or practice. Such order may, by provisions that may be mandatory or otherwise, require the institution or its directors, officers, employees, agents, and other persons participating in the conduct of the affairs of such institution to cease and desist from the same, and, further, to take affirmative action to correct the conditions resulting from any such violation or practice.(b) A cease and desist order shall become effective at the expiration of thirty days after the service of such order upon the institution or other person concerned (except in the case of a cease and desist order issued upon consent, which shall become effective at the time specified therein), and shall remain effective and enforceable as provided therein except to such extent as it is stayed, modified, terminated, or set aside by action of the Farm Credit Administration or a reviewing court.(Pub. L. 92–181, title V, § 5.25, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1694.)Editorial NotesPrior Provisions

A prior section 5.25 of Pub. L. 92–181 was renumbered section 5.24 and is classified to section 2259 of this title.

Statutory Notes and Related SubsidiariesEffective Date

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

Notes of Decisions

Cited in 5 cases (1 in the last 5 years), 1987–2026 · leading case: Donald E. Redd & Mary A. Redd v. Fed. Land Bank of St. Louis, Fed. Land Bank Ass'n of Ne. Missouri & Doug Browne, Tr., 851 F.2d 219 (8th Cir. 1988).

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Donald E. Redd & Mary A. Redd v. Fed. Land Bank of St. Louis, Fed. Land Bank Ass'n of Ne. Missouri & Doug Browne, Tr., 851 F.2d 219 (8th Cir. 1988). “12 U.S.C. § 2261 (a) authorizes the FCA to issue a cease and desist order when: any institution in the Farm Credit System, or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution * * * is violating, or * * * is…”

Jarrett Ranches, Inc. v. Farm Credit Banks of Omaha (In re Jarrett Ranches, Inc.), 107 B.R. 963 (Bankr. D.S.D. 1989). · cites it 2× “This 30 day period (March 30 — May 1) is in conformance with 12 U.S.C. § 2261 (a) which requires that a hearing be held no less than 30 days nor later than 60 days after service of notice, absent a request for an earlier date by one of the parties.”

Redd v. Fed. Land Bank of St. Louis, 661 F. Supp. 861 (E.D. Mo. 1987). “12 U.S.C. § 2261 . A party may obtain judicial review in the appropriate United States Court of Appeals.”

Indep. Bankers Ass'n v. Nat'l Credit Union Admin., 936 F. Supp. 605 (W.D. Wis. 1996). · cites it 2× “” 12 U.S.C. § 2261 (a) (emphasis added). If the Farm Credit Administration determines that in fact a violation has taken place, then it “may” issue a cease and desist order or “may ” order affirmative action by the institution.”

Kittle (M.D. Tenn. 2026). · cites it 3× “See 12 U.S.C. § 2261 (a), et seq. 1 Unless otherwise indicated, all facts are as alleged in the Third Amended Complaint (“TAC” or “Complaint”) (Doc.”

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