Limits FCA disclosure authority concerning loans made to directors or their families. Requires the Secretary to notify the foreclosed borrower of such homestead rights. Requires FCA review and a stockholder vote as prerequisites to consolidation.
15 of 1972 General Law Amendment Act, No. Sets forth eligibility criteria, including: (1) the delinquency must be due to circumstances beyond the borrower's control; (2) good faith activity by the borrower, including a reasonable recovery plan; and (3) a net recovery by the Government that will equal or exceed similar foreclosure recovery. States that after such a sale the lender shall remain obligated under the guarantee agreement and shall continue to service the loan. Authorizes the government of any Indian tribe to revise FmHA purchase or lease priorities. 87-6. 100–233, 101 Stat. One, a reference to a Public Law number, is a link to the bill as it was originally passed by Congress, and will take you to the LRC THOMAS legislative system, or GPO FDSYS site. AGRICULTURAL CREDIT ACT OF 1987 - TITLE V (STATE... (ii) unrelated to any ongoing dispute or mediation in which the Department of Agriculture is a party.
On the other hand, legislation often contains bundles of topically unrelated provisions that collectively respond to a particular public need or problem. Requires each district to establish a special asset group to review, and reverse if appropriate, loan restructuring denials.
Makes any farmer eligible for a director insured loan also eligible to serve as a county committee member (but only one such farmer may serve at one time).
States that a merged bank shall have all the powers of and be subject to all the obligations imposed on the constituent banks. [displayText] => Congress.
Entitles the borrower to retain at least one share of stock in order to maintain association membership and voting power. Requires that appropriate procedures be used to calculate future yields for loan application purposes in cases where past fields have been affected by natural disasters. Stipulates that if no such active association exists in an area, loans may be made directly or through other financial institutions.
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History books, newspapers, and other sources use the popular name to refer to these laws. Applies certain uninsured borrower funds held in a bankrupt institution against such person's loan indebtedness. Provides for a three-member board of directors composed of the Secretary of the Treasury, the Secretary of Agriculture, and an agricultural producer experienced in finance. Sets forth implementing provisions.
Agricultural Credit Act of 1987 by United States. [actionDate] => 1987-12-04
Gives distressed loan borrowers the right to request a review of a restructuring denial. Requires quarterly proposal reports to the appropriate congressional committees. Limits outstanding obligations to $1,500,000,000. Sets forth loss determination provisions.
Provides for stockholder disclosure of information regarding mergers, dissolutions, terminations, and transfers.
Directs the Corporation to: (1) evaluate institutions as their obligations come due; (2) furnish the Secretary of the Treasury and the appropriate congressional committees with such evaluations; and (3) if an institution is unable to redeem preferred stock, use Trust Fund amounts for such purpose.
In United States federal agriculture legislation, the Agricultural Credit Act of 1987 (Pub.L. Provides for outside directors on association boards of directors.
[description] => Introduced Sets forth restructuring determination provisions.
[actionDate] => 1987-10-06 L. 100-233, Jan. 6, 1988, 101 Stat. Authorizes the Corporation to charge fees to cover administrative costs.
edition, in English Agricultural Credit Act of 1987 was, as a bill, a proposal (now, a piece of legislation) introduced on 1987-07-28 in the House of Commons and Senate respectively of the 100 United States Congress by la de in relation with: , , , , , , .