12 U.S.C. § 2076a

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 2076a - Liens on stock

Except with regard to stock or participation certificates held by other Farm Credit System institutions, each production credit association shall have a first lien on stock and participation certificates the association issues, on allocated surplus, and on investments in equity reserve, for any indebtedness of the holder of the capital investments and, in the case of equity reserves, for charges for association losses in excess of reserves and surpluses.

12 U.S.C. § 2076a

Pub. L. 92-181, title II, §2.6, as added Pub. L. 101-624, title XVIII, §1833(2), Nov. 28, 1990, 104 Stat. 3832.

EDITORIAL NOTES

PRIOR PROVISIONSA prior section 2.6 of Pub. L. 92-181 was renumbered section 2.7 and is classified to section 2077 of this title.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective Jan. 7, 1988, see section 1861(d) of Pub. L. 101-624 set out as an Effective Date of 1990 Amendment note under section 2001 of Title 7, Agriculture.

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.