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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 12 U.S.C. § 2021 | Loans through associations or agents | us | united_states_code | code_section | 12 | BANKS AND BANKING | 23 | FARM CREDIT SYSTEM | 2021 | 12 U.S.C. § 2021 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip | /us/usc/t12/s2021 | data/legal/raw/us/code/title-12/usc12.xml | cd5038eefe47143d38c497f6c51d6c50ba4431d6adddec235b261686bbfb4353 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | a6c63fc71731cec2f4eedd9603408bb9009f40e3c275215b6b4b72747bb7da52 | 2026-07-04 | official |
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12 U.S.C. § 2021 - Loans through associations or agents
Text
(a) In general The Farm Credit Banks shall, except as otherwise herein provided, make loans of the type authorized under section 2015(a) of this title through a Federal land bank association chartered to serve the territory in which the real estate of the borrower is located.
(b) No active association If there is no active association chartered to serve territory where the real estate is located, the bank may make the loan directly or through such bank or trust company or savings or other financial institution as such bank may designate.
(c) Purchase of stock required When the loan is not made through a Federal land bank association, the applicant shall purchase stock in the bank in accordance with the capitalization requirements provided for in the bylaws of the bank.
(Pub. L. 92–181, title I, § 1.13, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1628.)
Notes
Editorial Notes
Prior ProvisionsA prior section 1.13 of Pub. L. 92–181 was classified to section 2031 of this title prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
Statutory Notes and Related Subsidiaries
Effective DatePub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1622, provided that this section is effective 6 months after Jan. 6, 1988.