WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 23

12 U.S.C. 2183: Dissolution; voluntary or involuntary liquidation; mergers; receiverships or conservators

Created in 1971 by Public Law 92-181. Changed by 3 later laws. No bill we track in this Congress changes it.

1 other section of the Code cite this one, including 12 U.S.C. 2279cc.

8 parts of federal rules cite it as their authority, written by Farm Credit Administration (8).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    1988

    • Pub. L. 100–399, §901(f), substituted "board of the supervising bank" for "district board". · (a)
    • Pub. L. 100–233, §415(a)(4), struck out third sentence which provided that Associations may voluntarily merge with other like associations upon the vote of a majority of each of their stockholders present and voting or voting by written proxy at duly authorized meetings, and with the approval of th… · (a)
    • Pub. L. 100–233, §431(g), substituted "Farm Credit Administration Board" for "Farm Credit Administration" wherever appearing other than in cl. (5). · (b)
    • Pub. L. 100–233, §306, added cl. (6) and inserted ", and such receiver or conservator, after the 5-year period beginning on January 6, 1988, shall be the Farm Credit System Insurance Corporation" before the period at end of second sentence. · (b)
    • Pub. L. 100–233, §805(r), substituted "court shall" for "court, shall". · (b)

    1985

    • Pub. L. 99–205, §205(f)(5), substituted "Farm Credit Administration" for "Federal Farm Credit Board" in last sentence. · (a)
    • Pub. L. 99–205, §305(a), inserted after first sentence a sentence requiring the regulations, in the case of a voluntary liquidation of an association, to direct the supervising bank to institute appropriate measures to minimize the adverse effect of the liquidation on borrowers whose loans are purc… · (a)
    • Pub. L. 99–205, §102, in revising subsec. (b), substituted expanded provisions respecting appointment of conservator or receiver for former provision, which read as follows: "Upon default of any obligation by any institution of the System, such institution may be declared insolvent and… · (b)
    • Pub. L. 99–205, §305(b), added subsec. (c). · (c)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.