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United States · Law · HR

H.R. 2029 (104th)

Farm Credit System Reform Act of 1996

enactedUnited States· United States Congress· EN

Introduced

13 July 1995

Last action

Status

Became Public Law No: 104-105.

Sponsors

Subjects

Discovery layer

Source updated

7 April 2025

Summary

Farm Credit System Regulatory Relief Act of 1995 - Amends the Farm Credit Act of 1971 to extend the length of time between required Farm Credit Administration examinations of Farm Credit System (FCS) institutions. (Sec. 5) Directs the Farm Credit System Insurance Corporation (FCSIC) to allocate Farm Credit Insurance Fund excess interest earnings to FCS banks. (Sec. 6) Requires FCSIC to implement the least-cost alternative, including liquidation, in providing assistance to troubled FCS banks. (Sec. 8) States that FCSIC may act as conservator or receiver of a FCS institution. (Sec. 9) Sets forth specified FCSIC oversight and regulatory authority, including regulation of golden parachute and indemnification payments. (Sec. 10) Permits FCS associations to establish administrative service entities. (Sec. 11) Sets forth specified requirements for secondary market loan sales, including borrowers' rights. (Sec. 12) Revises certain paperwork, private sector certification, and operating provisions.

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18 official files

Enrolled Bill (text)

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