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U.S. Code as of:
01/19/04
Section 1148b. Additional powers of regional agricultural credit corporations
Each regional agricultural credit corporation, created under the
authority of section 1148 of this title, in addition to the powers
granted prior to August 19, 1937, shall have and, upon order or
approval of the Farm Credit Administration, shall exercise the
following rights, powers, and authority:
(a) Places of transacting business
To conduct, transact, and operate its business in any State in
the continental United States, in the District of Columbia, and in
Puerto Rico.
(b) Borrow money
To borrow money (other than by way of discount) from any other
regional agricultural credit corporation, or any Federal
intermediate credit bank, and to give security therefor.
(c) Loans
To lend any of its available funds to any other regional
agricultural credit corporation at such rates of interest and upon
such terms and conditions as may be approved by the Farm Credit
Administration.
(d) Sale to or purchase from other like corporations
To sell to or purchase from any other regional agricultural
credit corporation or any corporation formed by consolidation or
merger as provided in section 1148c of this title, any part of or
all the assets of any such corporation, upon such terms and
conditions as may be approved by the Farm Credit Administration,
including the assumption of the liabilities of any such
corporation, in whole or in part.
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