12 U.S.C. § 2147

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 2147 - Patronage pools

Under such terms and conditions as may be determined by its board of directors, the consolidated bank may-

(1) for a period of at least 3 years following January 6, 1988, establish separate patronage pools consisting of loans to eligible borrowers located in each constituent farm credit district (as such district existed on January 6, 1988); and

(2) allocate revenues, expenses, and net savings among such pools on an equitable basis.

12 U.S.C. § 2147

Pub. L. 92-181, title III, §3.26, as added Pub. L. 100-233, title IV, §415(2), Jan. 6, 1988, 101 Stat. 1644.

credit

The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.