Farm Credit Act of 1935, Hearing Before ..., 74-1 on H.R. 4512 (H.R. 5440 Reported), February 1, 2, and 6, 1935, Parts 12-13

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Page 5 - Third. That the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers in an amount greater In value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.
Page 4 - First. That no member of the association 'is allowed more than one vote because of the amount of stock or membership capital he may own therein, or, "Second. That the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum.
Page 5 - The first sentence of subsection (a) of section 30 of the Emergency Farm Mortgage Act of 1933 is amended by striking out the words
Page 3 - ... secured by such collateral as may be approved by the Governor of the Farm Credit Administration;".
Page 5 - Act is amended by striking out the period at the end and inserting in lieu thereof a comma and the following: "and $100,000,000 for the fiscal year ending June 30, 1951.
Page 3 - May 26, 1924, as amended (USC, title 8, sec. 203), is hereby amended by striking out the period at the end thereof and inserting in lieu thereof a comma and the following : "and...
Page 4 - Commissioner, from time to time establish rates of discount and interest which, except with the anproval of the Governor of the Farm Credit Administration, shall not exceed by more than 1 per centum per annum the rate borne by the last preceding issue of debentures which it issued or in which it participated. Any Federal intermediate credit bank...
Page 4 - cooperative association" means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing .farm supplies and/or farm business services: .Provided, however, That such associations are operated for the mutual benefit of the members thereof as such producers or purchasers and...
Page 3 - States, and such guaranty shall be expressed on the face thereof ; and such bonds shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 4 - As used in this Act, the term "cooperative association" means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing .farm supplies and/or farm business services: .Provided, however, That such associations are operated for...

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