Fabio
76b8ec33a7
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>
48 lines
2.3 KiB
Markdown
48 lines
2.3 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 2279bb–5"
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description: "Mandatory actions applicable to level II"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "23"
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chapter_name: "FARM CREDIT SYSTEM"
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section: "2279bb–5"
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citation: "12 U.S.C. § 2279bb–5"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s2279bb–5"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "66ec0b892c577087ab4d391b0f5c117c8bce09039fa9a698251b111a3f35fb8e"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "4324b7a780a4dff104b87a271055a31519edf8fcb2399c1376da0f337f3ad2df"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 2279bb–5 - Mandatory actions applicable to level II
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## Text
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(a) Capital restoration plan If the Corporation is classified as within level II, the Corporation shall, within the time period determined by the Director, submit to the Director a capital restoration plan and, after approval, carry out the plan.
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(b) Restriction on dividends If the Corporation is classified as within level II, the Corporation may not make any payment of dividends that would result in the Corporation being reclassified as within level III or IV.
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(c) Reclassification from level II to level III The Director shall immediately reclassify the Corporation as within level III (and the Corporation shall be subject to the provisions of section 2279bb–6 of this title), if—
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(1) the Corporation is within level II; and
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(2) (A) the Corporation does not submit a capital restoration plan that is approved by the Director; or
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(B) the Director determines that the Corporation has failed to make, in good faith, reasonable efforts necessary to comply with such a capital restoration plan and fulfill the schedule for the plan approved by the Director.
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(d) Effective date This section shall take effect upon the expiration of the 30-month period beginning on December 13, 1991.
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(Pub. L. 92–181, title VIII, § 8.36, as added Pub. L. 102–237, title V, § 503(b)(2), Dec. 13, 1991, 105 Stat. 1876.)
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