§ 871 to 886. — Repealed.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: 12USC871]
TITLE 12--BANKS AND BANKING
CHAPTER 7--FARM CREDIT ADMINISTRATION
SUBCHAPTER I--FEDERAL LAND BANKS, JOINT-STOCK LAND BANKS, AND FEDERAL
LAND BANK ASSOCIATIONS
Special Provisions of Farm Loan Bonds
Secs. 871 to 886. Repealed. Pub. L. 92-181, title V,
Sec. 5.26(a), Dec. 10, 1971, 85 Stat. 624
Section 871, act July 17, 1916, ch. 245, title I, Sec. 21, 39 Stat.
377; Ex. Ord. No. 6084, Mar. 27, 1933, provided that land banks be bound
by the acts of officers and Farm Credit Administration in issue of
bonds.
Section 872, act July 17, 1916, ch. 245, title I, Sec. 21, 39 Stat.
377; Ex. Ord. No. 6084, Mar. 27, 1933, covered liability of each land
bank for bonds issued by it and by other land banks.
Section 873, act July 17, 1916, ch. 245, title I, Sec. 21, 39 Stat.
377, directed that board of directors of each land bank obligate each
such bank to become liable on farm loan bonds.
Section 874, acts July 17, 1916, ch. 245, title I, Sec. 21, 39 Stat.
377; Apr. 20, 1920, ch. 154, Sec. 6, 41 Stat. 571; Ex. Ord. No. 6084,
Mar. 27, 1933; June 16, 1933, ch. 98, title VII, Sec. 75(b), title VIII,
Sec. 80(a), 48 Stat. 271, 273; June 30, 1945, ch. 204, Sec. 10(a), 59
Stat. 268, provided for signing and attesting of bonds and certificate
of Land Bank Commissioner.
Section 875, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476,
authorized consolidation of bonds and their sale through a common
selling agency.
Section 876, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
June 16, 1933, ch. 98, title VIII, Secs. 80(a), 81, 48 Stat. 273,
provided for signature and attestation of bonds, joint and several
obligations, and recitals.
Section 877, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476,
directed that consolidated bonds be made payable at any land bank and
authorized provisions making them payable at Federal reserve banks or
other designated banks as well.
Section 878, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
Mar. 4, 1925, ch. 524, Sec. 6, 43 Stat. 1264; June 16, 1933, ch. 98,
title VIII, Secs. 80(a), 81, 48 Stat. 273, directed that land banks on
whose behalf consolidated bonds are issued be bound by acts of Land Bank
Commissioner and any deputy land bank commissioner.
Section 879, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
June 16, 1933, ch. 98, title VIII, Secs. 80(a), 81, 48 Stat. 273,
directed that boards of directors of land banks, before participating in
a consolidated issue, obligate such banks to be liable on farm loan
bonds and to be bound by action of Land Bank Commissioner and any deputy
land bank commissioner.
Section 880, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
Ex. Ord. No. 6084, Mar. 27, 1933; June 16, 1933, ch. 98, title VII,
Sec. 75(b), title VIII, Sec. 80(a), 48 Stat. 271, 273; June 30, 1945,
ch. 204 Sec. 10(b), 59 Stat. 269, covered certificate of Land Bank
Commissioner appearing on face of every farm loan bond issued.
Section 881, act July 17, 1916, ch. 245, title I, Sec. 21, 39 Stat.
377; Mar. 4, 1923, ch. 252, title VIII, Sec. 308, 42 Stat. 1476; Mar. 4,
1933, ch. 270, Sec. 7, 47 Stat. 1550; Ex. Ord. No. 6084, Mar. 27, 1933,
covered special provisions of farm loan bonds, consolidated bonds, the
participation of land banks in their issuance, and collateral.
Section 882, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
Ex. Ord. No. 6084, Mar. 27, 1933, covered action to be taken upon
failure of a participating bank to pay interest or principal.
Section 883, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
Aug. 19, 1937, ch. 704, Sec. 18, 50 Stat. 709, covered bond committee of
Federal land banks and acts of such committee in conducting its
business.
Section 884, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476; amended
Ex. Ord. No. 6084, Mar. 27, 1933; June 16, 1933, ch. 98, title VIII,
Secs. 80(a), 81, 48 Stat. 273, set out duties of bond committee on
contemplation of an issue of consolidated bonds.
Section 885, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476, covered
proper charging of expenses of bond committee and of sale of bonds.
Section 886, act July 17, 1916, ch. 245, title I, Sec. 21 (par.), as
added Mar. 4, 1923, ch. 252, title III, Sec. 308, 42 Stat. 1476,
provided for compensation of members of bond committee.
