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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1040 to 1045 Repealed. Pub. L. 92181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624 us united_states_code code_section 12 BANKS AND BANKING 7 FARM CREDIT ADMINISTRATION 1040 to 1045 12 U.S.C. § 1040 to 1045 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/s1040...1045 data/legal/raw/us/code/title-12/usc12.xml f5e1a91d0adc69741c364b9ee7a5139377c7a781bc268f289331619c2ce5adb7 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 4ca244819cd302cf1e6b906fd0378554552a3150eb390d2c8b5f78b56a7d27a5 2026-07-04 official
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12 U.S.C. § 1040 to 1045 - Repealed. Pub. L. 92181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624

Notes

Section 1040, act Aug. 19, 1937, ch. 704, § 39, 50 Stat. 718, defined “debenture” and “debentures” as used in purchase, sale, or use as security of debentures issued by or for benefit of intermediate credit banks.

Section 1041, act July 17, 1916, ch. 245, title II, § 203(a), as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1456; amended Ex. Ord. No. 6084, Mar. 27, 1933; June 3, 1935, ch. 164, § 6(a), 49 Stat. 315; Aug. 19, 1937, ch. 704, § 27, 50 Stat. 715; July 26, 1956, ch. 741, title I, § 104(f), 70 Stat. 664; Oct. 4, 1965. Pub. L. 89237, § 1(b), 79 Stat. 922; June 18, 1968, Pub. L. 90345, § 1(a), 82 Stat. 182, empowered intermediate credit banks to borrow money and issue and sell collateral trust debentures. See section 2074 of this title.

Section 1042, act July 17, 1916, ch. 245, title II, § 203(b), as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1456; amended Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 19, 1937, ch. 704, § 28, 50 Stat. 715; Sept. 20, 1966, Pub. L. 89595, 80 Stat. 821, directed Farm Credit Administration to prescribe rules and regulations governing collateral and handling thereof and to fix interest rates.

Section 1043, act July 17, 1916, ch. 245, title II, § 203(c), as added Mar. 4, 1923, ch. 252, title I, § 2, 42 Stat. 1456; amended Ex. Ord. No. 6084, Mar. 27, 1933, prohibited assumption of liability on debentures or other obligations issued pursuant to former section 1041 of this title by the United States.

Section 1044, act July 17, 1916, ch. 245, title II, § 203(d), as added June 3, 1935, ch. 164, § 6(b), 49 Stat. 315; amended July 26, 1956, ch. 741, title I, § 104(f), 70 Stat. 664, authorized intermediate credit banks to issue and sell consolidated debentures or other similar obligations.

Section 1045, act July 17, 1916, ch. 245, title II, § 203(e), as added June 3, 1935, ch. 164, § 6(b), 49 Stat. 316; amended July 26, 1956, ch. 741, title I, § 104(f), 70 Stat. 664, covered investment of fiduciary and trust funds in debentures and other similar obligations of intermediate credit banks and security for public deposits.