Statute: 1971 ACT AS AMENDED
Title: Title V Farm Credit Administration Organization
Part: Part C Enforcement Powers of Farm Credit Administration
U.S. Code Citation: 12 U.S.C. 2271
12 U.S.C. 2271 SEC. 5.35. DEFINITIONS.
As used in this part—
(1) the terms "cease and desist order which has become final" and "order which has become final" mean a cease and desist order, or an order, issued by the Farm Credit Administration with the consent of the System institution or the director or officer or other person concerned, or with respect to which no petition for review of the action of the Farm Credit Administration has been filed and perfected in a court of appeals as specified in section 5.30(b) of this Act, or with respect to which the action of the court in which such petition is so filed is not subject to further review by the Supreme Court of the United States in proceedings provided for in section 5.30(b) of this Act, or an order issued under section 5.29 of this Act;
(2) the term "violation" includes without limitation any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation;
(3) the terms "institution in the System," "System institution," and "institution" mean all institutions enumerated in section 1.2 of this Act, any service organization chartered under part E of title IV of this Act, and the Financial Assistance Corporation; and
(4) the term "unsafe or unsound practice" shall—
(A) have the meaning given to it by the Farm Credit Administration by regulation, rule, or order;
(B) during the period beginning on the date of the enactment of this paragraph and ending December 31, 1992, mean any noncompliance by a System institution, as determined by the Farm Credit Administration in consultation with the Assistance Board, with any term or condition imposed on the institution by the Assistance Board under section 6.6; and
(C) after December 31, 1992, mean any significant noncompliance by a System institution (as determined by the Farm Credit Administration, in consultation with the Farm Credit System Insurance Corporation) with any term or condition imposed on the institution by the Farm Credit System Assistance Board under section 6.6 or by the Farm Credit System Insurance Corporation under section 5.61.
[FCA Home | FCA Handbook]