To Amend the Federal Farm Loan Act: Hearing Before the Committee on Banking and Currency, United States Senate, Seventy-fifth Congress, First Session, on H.R. 7909, an Act to Amend the Federal Farm Loan Act, to Amend the Emergency Farm Mortgage Act of 1933, to Amend the Farm Credit Act of 1933, to Amend the Federal Farm Mortgage Corporation Act, to Amend the Agricultural Marketing Act, and for Other Purposes, August 11, 1937 |
From inside the book
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Page 11
... liquidation , after the payment of all debts and other obligations as hereinbefore provided , any surplus remaining shall be paid to and become the property of the United States and shall be similarly applied . ' " " SEC . 31. Section ...
... liquidation , after the payment of all debts and other obligations as hereinbefore provided , any surplus remaining shall be paid to and become the property of the United States and shall be similarly applied . ' " " SEC . 31. Section ...
Page 19
... liquidation . This section authorizes each regional agricultural credit corporation to transact business in any State of the United States , in the District of Columbia and in Puerto Rico ; to borrow money from any other regional ...
... liquidation . This section authorizes each regional agricultural credit corporation to transact business in any State of the United States , in the District of Columbia and in Puerto Rico ; to borrow money from any other regional ...
Page 21
... liquidation . Those sections 30 and 31 expired recently . There never have been any loans made under sec- tion 30. This provides that up to $ 2,000,000 can be loaned under the terms of section 31 , but it makes the loan available ...
... liquidation . Those sections 30 and 31 expired recently . There never have been any loans made under sec- tion 30. This provides that up to $ 2,000,000 can be loaned under the terms of section 31 , but it makes the loan available ...
Page 22
... liquidation , and this would merely permit them to borrow on sound but ineligible assets , to assist in their orderly liquidation . Section 5 provides for 12 farm - credit boards , prescribes the manner in which the members thereof ...
... liquidation , and this would merely permit them to borrow on sound but ineligible assets , to assist in their orderly liquidation . Section 5 provides for 12 farm - credit boards , prescribes the manner in which the members thereof ...
Page 34
... liquidation process . The price level went up . When the bonds were very low , it was a sort of liquidation process , and it created a good deal of ill will . Governor MYERS . Section 30 changes the procedure for determining the amount ...
... liquidation process . The price level went up . When the bonds were very low , it was a sort of liquidation process , and it created a good deal of ill will . Governor MYERS . Section 30 changes the procedure for determining the amount ...
Common terms and phrases
agricultural credit corporations Agricultural Marketing Act ALBEN W amended U. S. C. Amends 12 U. S. C. appointed approval bank for cooperatives board of directors bond committee callable bonds conditional payments debentures issued edition Emergency Farm Mortgage end thereof fair book value Farm Credit Act Farm Credit Adminis Farm Credit Administration farm credit board farm credit district Farm Loan Act farm loan association Farm Mortgage Act Farm Mortgage Corporation farmers Federal Farm Loan Federal Farm Mortgage Federal intermediate credit Federal land bank franchise tax further amended Governor MYERS indebtedness institutions intermediate credit bank joint-stock land banks Land Bank Commissioner Mortgage Corporation bonds national farm loan paid paid-in surplus percent permit production credit corporation pursuant Reconstruction Finance Corporation refinancing regional agricultural credit revolving fund section 31 Senator FRAZIER Senator HITCHCOCK Senator HUGHES Senator STEIWER shareholders subcommittee terms and conditions thereof the following tion title 12 United States Code
Popular passages
Page 11 - II, title 12, sec. 1095), is amended to read as follows: "(e) The executive departments, boards, commissions, and independent establishments of the Government, the Reconstruction Finance Corporation, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal...
Page 9 - If the Comptroller of the Currency becomes satisfied that it may safely be done and that it would be in the public interest, he may, in his discretion, terminate the conservatorship and permit such bank to resume the transaction of its business subject to such terms, conditions, restrictions and limitations as he may prescribe.
Page 12 - 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.
Page 3 - ... (b) There shall be in each farm credit district a farm credit board, which shall be selected as hereinafter specified and shall be composed of seven members. Each farm credit board shall include in its title the name of the city in which the Federal land bank. Federal intermediate credit bank, production credit corporation, and regional bank for cooperatives of the district are located. Three of the members of said board shall be known as elected directors of whom one shall be chosen by national...
Page 6 - Act (USC, 1934 edition, title 12, sec. 712) is amended by striking out the first sentence and inserting in lieu thereof the following: "The...
Page 10 - The provisions of Title I relating to the preparation and issue of farm loan bonds shall, so far as applicable, govern the preparation and issue of debentures or other such obligations issued under this...
Page 20 - If any provision of this Act or the application of such provision to any person or circumstance is held invalid, the remainder of the Act shall not be affected thereby.
Page 11 - The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements...
Page 6 - Agriculture. § 712. Directors ; officers ; loan committee. — The board of directors of every national farm loan association shall consist of not less than five nor more than seven members, who shall be elected by the shareholders of the association. Elections of such directors shall be held once each year at an annual meeting of the shareholders. Every national farm loan association shall at the first annual meeting of its shareholders subsequent to August 19, 1937, elect two directors for a term...
Page 7 - That in all elections of directors, and in deciding all questions at meetings of shareholders, each shareholder shall be entitled to one vote on each share of stock held by him. Shareholders may vote by proxies duly authorized in writing; but no officer, clerk, teller, or book-keeper of such association shall act as proxy; and no shareholder whose liability is past due and unpaid shall be allowed...