§ 1020 to 1020a-1. — Repealed.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1020]
TITLE 12--BANKS AND BANKING
CHAPTER 7--FARM CREDIT ADMINISTRATION
SUBCHAPTER II-A--FEDERAL FARM MORTGAGE CORPORATION
Secs. 1020 to 1020a-1. Repealed. Pub. L. 87-353, Sec. 3(a), (v),
Oct. 4, 1961, 75 Stat. 773, 774
Section 1020, act Jan. 31, 1934, ch. 7, Sec. 1, 48 Stat. 344,
provided for establishment of Federal Farm Mortgage Corporation, and for
board of directors, bylaws, regulations and employment of officers and
employees.
Section 1020a, act Jan. 31, 1934, ch. 7, Sec. 2, 48 Stat. 345,
related to period of succession of Federal Farm Mortgage Corporation,
its powers, free use of mails and use of Government facilities.
Section 1020a-1, act Sept. 21, 1944, ch. 412, title VI, Sec. 603, 58
Stat. 741, provided for treatment of capital investment expenditures as
nonadministrative expenses.
Abolition of Federal Farm Mortgage Corporation
Pub. L. 87-353, Secs. 1, 2, Oct. 4, 1961, 75 Stat. 773, abolished
Federal Farm Mortgage Corporation established by the Act of Jan. 31,
1934, 48 Stat. 344, formerly set out in section 1020 of this title,
terminated all powers and functions of Corporation, transferred all
assets owned by Corporation and all authority of the Corporation
relating to collection of notes receivable from Federal land banks to
Secretary of the Treasury, authorized Federal land bank of appropriate
district to execute in its own name or the name of Corporation any
instrument necessary to perfect title to real property (other than
reserved mineral interests) which appeared to be in Land Bank
Commissioner in a particular district or Corporation, reserved mineral
interests of Corporation which were not disposed of to United States of
America to be administered by Secretary of the Interior, provided that
any moneys collected by Secretary of the Treasury by virtue of act be
deposited in general fund of the Treasury as miscellaneous receipts and
further provided that no proceeding commenced by or against the
Corporation would abate as the court on motion filed within twelve
months after the date of enactment of the act (Oct. 4, 1961) could allow
the same to be maintained by or against Secretary of the Treasury.
