12 U.S.C. § 2214
State and other laws shall apply to corporations organized pursuant to this part to the same extent such laws would apply to the organizing banks engaged in the same activity in the same jurisdiction: Provided, however, That to the extent that sections 2023, 2098, and 2134 of this title may exempt banks or associations of the Farm Credit System from taxation, such exemptions, other than with respect to franchise taxes, shall not extend to corporations organized pursuant to this part.
12 U.S.C. § 2214
EDITORIAL NOTES
AMENDMENTS1991- Pub. L. 102-237 made technical amendment to reference to section 2098 of this title to reflect change in reference to corresponding section of original act. 1988- Pub. L. 100-399 inserted "or associations" and substituted "2023, 2098," for "2055, 2079,".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 1991 AMENDMENT Amendment by Pub. L. 102-237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101-624 to which the amendment relates, see section 1101(b)(4) of Pub. L. 102-237 set out as a note under section 1421 of Title 7, Agriculture.
EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100-399 effective immediately after amendment made by section 401 of Pub. L. 100-233 which was effective 6 months after Jan. 6, 1988, see section 1001(b) of Pub. L. 100-399 set out as a note under section 2002 of this title.
- State
- The term "State" means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands or any federally recognized Indian tribe, as defined by the Secretary of the Interior under section 5131(a) of title 25.
- 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.