12 U.S.C. § 2208

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

Section 2208 - Prohibition against use of signed ballots

In any election or merger vote, or other proceeding subject to a vote of the stockholders (or subscribers to the guaranty fund of a bank for cooperatives), conducted by a lending institution of the Farm Credit System, the institution-

(1) may not use signed ballots; and

(2) shall implement measures to safeguard the voting process for the protection of the right of stockholders (or subscribers) to a secret ballot.

12 U.S.C. § 2208

Pub. L. 92-181, title IV, §4.20, as added Pub. L. 96-592, title IV, §403, Dec. 24, 1980, 94 Stat. 3447; amended Pub. L. 100-233, title IV, §425, Jan. 6, 1988, 101 Stat. 1657.

EDITORIAL NOTES

AMENDMENTS1988- Pub. L. 100-233 amended section generally. Prior to amendment, section read as follows: "The provisions of (1) section 2074 of this title authorizing the Federal intermediate credit banks to lend to or discount paper for other financial institutions, and (2) section 2128(b) of this title authorizing the financing of certain domestic or foreign entities in connection with the import or export activities of cooperatives which are borrowers from the banks for cooperatives, shall expire on September 30, 1990, unless extended by Act of Congress prior to that date. Any contract or agreement entered into under the authority of either provision prior to its expiration shall remain in full force and effect notwithstanding such expiration."

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.