[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR614.4110]



[Page 110]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 614_LOAN POLICIES AND OPERATIONS--Table of Contents

 

             Subpart C_Bank/Association Lending Relationship

 

Sec. 614.4110  Transfer of direct lending authority to Federal land 

bank associations and agricultural credit associations.



    (a) Upon the transfer of authority to make and participate in long-

term agricultural real estate mortgage loans by a Farm Credit Bank or 

agricultural credit bank to a Federal land bank association pursuant to 

section 7.6(a) of the Act and subpart E of part 611 of these 

regulations, the association shall be designated a Federal land credit 

association and shall have the powers set forth in Sec. 614.4030.

    (b) Upon the transfer of the authority to make and participate in 

long-term real estate loans by a Farm Credit Bank or agricultural credit 

bank to an agricultural credit association pursuant to section 7.6(d) of 

the Act, the association shall have all of the powers set forth in Sec. 

614.4050.

    (c) An association to which such long-term lending authority is to 

be transferred shall have in place, prior to the transfer, policies and 

procedures guiding the extension and administration of credit within its 

territory.



[55 FR 24883, June 19, 1990]