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Type: Statute
Statute: 1971 ACT AS AMENDED
Title: Title VI Assistance to Farm Credit System
Part:
Subtitle: Subtitle A - Assistance Board
Chapter Name:
U.S. Code Citation: 12 U.S.C. 2278a

TITLE VI—ASSISTANCE TO FARM CREDIT SYSTEM

Subtitle A—Assistance Board

12 U.S.C. 2278a SEC. 6.0. ESTABLISHMENT OF BOARD.
(a) CHARTERS. On the date which is 15 days after the date of the enactment of this title, the Farm Credit Administration shall revoke the charter of the Farm Credit System Capital Corporation (hereinafter referred to in this title as the "Capital Corporation") and shall charter the Farm Credit System Assistance Board (hereinafter referred to in this Act as the "Assistance Board") that, subject to this subtitle, shall be a Federally chartered instrumentality of the United States.
(b) USE OF CAPITAL CORPORATION STAFF. During the 90-day period beginning on the date of the revocation of the charter of the Capital Corporation, the Assistance Board may temporarily employ, by contract or otherwise under reasonable and necessary terms and conditions, such staff of the Capital Corporation as is necessary to facilitate and effectuate an orderly transition to, and commencement of, the Assistance Board, and the termination of the affairs of the Capital Corporation.

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