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12 U.S.C. § 2219b

Title 12 Chapter 23 Current through PL 116-220 ~1 min read Last updated: March 30, 2026 View on OLRC →
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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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