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Editorial Note

This circular contains all general provisions, by acts of Congress and Executive Orders, relating to the establishment and operation of the Farm Credit Administration.

This circular also contains all provisions of the Federal Farm Loan Act, its amendments and supplements, relating to Federal land banks, joint stock land banks, national farm loan associations, and Federal intermediate credit banks; the provisions of the Emergency Farm Mortgage Act of 1933, as amended, relative to loans to farmers by the Land Bank Commissioner; the provisions of the Federal Farm Mortgage Corporation Act, as amended; the provisions of the Farm Credit Act of 1933, as amended, relating to production credit corporations, production credit associations, and banks for cooperatives; and provisions relating to regional agricultural credit corporations.

Unless otherwise specifically indicated in footnotes to individual sections, the provisions of the acts of Congress and of the Executive Orders contained herein are set forth in accordance with the codification thereof in the United States Code, 1946 Edition, and Supplement I thereto (Title 12, Chapters 7, 10; Title 7, Chapter 18), except for the sections of Title 18, which are taken from the Act of June 25, 1948, 62 Stat. 683.

At the right margin of this circular, just above each section which was incorporated in the Federal Farm Loan Act, either originally or by amendment thereto, is printed the number of the Federal Farm Loan Act section in which the provisions are contained. At the end of each section is a parenthetical reference to the act of Congress from which the provisions were derived, to any subsequent amendatory acts, and, wherever a section has been affected by either or both of the Executive Orders set forth at the beginning of this circular, to such Order or Orders.

The sections, chapters, and subchapters into which this circular is divided are numbered to correspond with the same material as it appears in the Code.

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