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Type: Statute
Statute: 1971 ACT AS AMENDED
Title: Title VIII Agricultural Mortgage Secondary Market
Part:
Subtitle: Subtitle B-Regulation of Financial Safety and Soundness of Federal Agricultural Mortgage Corporation
Chapter Name:
U.S. Code Citation: 12 U.S.C. 2279bb

Subtitle B—Regulation of Financial Safety and Soundness of Federal Agricultural Mortgage Corporation

12 U.S.C. 2279bb SEC. 8.31. DEFINITIONS.
For purposes of this subtitle:
(1) COMPENSATION. The term "compensation" means any payment of money or the provision of any other thing of current or potential value in connection with employment.
(2) CORE CAPITAL. The term "core capital" means, with respect to the Corporation, the sum of the following (as determined in accordance with generally accepted accounting principles):
(A) The par value of outstanding common stock.
(B) The par value of outstanding preferred stock.
(C) Paid-in capital.
(D) Retained earnings.
(3) DIRECTOR. The term "Director" means the Director of the Office of Secondary Market Oversight of the Farm Credit Administration, selected under section 8.11(a)(3).
(4) OFFICE. The term "Office" means the Office of Secondary Market Oversight of the Farm Credit Administration, established in section 8.11(a).
(5) REGULATORY CAPITAL. The term "regulatory capital" means, with respect to the Corporation, the core capital of the Corporation plus an allowance for losses and guarantee claims, as determined in accordance with generally accepted accounting principles.
(6) STATE. The term "State" means the States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and any other territory or possession of the United States.

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