12 U.S.C. § 2219b
Title 12
Chapter 23
Current through PL 116-220
~1 min read
Last updated: March 30, 2026
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§ 2219b. Application of uninsured accounts
- (a) Money of a borrower held by a Farm Credit System institution in an uninsured voluntary or involuntary account as authorized under regulations issued by the Farm Credit Administration (as in effect immediately before January 6, 1988 ), including all such other accounts known as “advanced payment accounts” or “future prepayment accounts” shall, in the event the institution is placed in liquidation, be immediately applied as payment against the indebtedness of any outstanding loans of such borrower.
- (b) The Farm Credit Administration shall promulgate regulations—
- (1) that define the term “uninsured voluntary or involuntary account”; and
- (2) to otherwise effectively carry out this section.
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