Farm Credit Act of 1956: Hearings Before a Subcommittee of ..., 84-2 on S. 3549, S. 3550, and S. 3564 ..., April 23 and 24, 1956

1956 - 207 sider
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Side 2 - If any provision of this Act or the application thereof to any person or circumstance is held invalid, the remainder of the Act and the application of such provisions to other persons or circumstances shall not be affected thereby.
Side 144 - All patronage refunds shall be paid in the proportion that the amount of interest earned on the loans of each borrower bears to the total interest earned on the loans of all borrowers during the fiscal year.
Side 61 - D, the Board of Governors of the Federal Reserve System hereby prescribes the following reserve balances which each member bank of the Federal Reserve System is required to maintain on deposit with the Federal Reserve Bank of its district...
Side 55 - Farm Credit Act of 1953. This act directed the Board to make recommendations to the Congress for carrying into effect the declared policy to increase borrower participation in the management, control, and ultimate ownership of the permanent system of agricultural credit made available through the banks and associations operating under the supervision of the Farm Credit Administration.
Side 148 - The last sentence of paragraph "Seventh" of section 5136 of the Revised Statutes, as amended, is further amended by inserting before the colon after the words "national mortgage associations" a comma and the following: "or obligations of the Industrial Loan Corporation".
Side 147 - The exemption provided herein shall not apply with respect to any Production Credit Association or its property or income after the stock held in it by the Production Credit Corporation has been retired, or with respect to...
Side 145 - The Federal intermediate credit banks, when chartered and established, shall have power, subject solely to the restrictions, limitations, and conditions contained In this Act or as may be prescribed by the Farm Credit Administration not Inconsistent with the provisions of this Act — (1) to discount for, or purchase from, any production credit...
Side 5 - A stock, preferred as to assets in the event of liquidation, may be issued only to the Governor of the Farm Credit Administration on behalf of the United States and represents the investment of the United States in such bank.
Side 145 - Act — (1) to discount for, or purchase from, any production credit association organized under the Farm Credit Act of 1933, as amended, with its endorsement, any note, draft, or other such obligation presented by such association; and to make loans and advances to any such association secured by such collateral as may be approved by the Governor of the Farm Credit Administration...

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