KRS 247.9471: Purchase and sale of agricultural loans by corporation.

(1) The corporation may purchase or contract to purchase and sell or contract to sell

agricultural loans made by lending institutions. All lending institutions are hereby

authorized to purchase and sell agricultural loans to the corporation in accordance

with the provisions of KRS 247.940 to 247.978 and the rules and administrative

regulations of the corporation.

(2) The corporation may make, or contract to make, loans to and deposits with lending

institutions. All lending institutions are hereby authorized to borrow funds and

accept deposits from the corporation in accordance with the provisions of KRS

247.940 to 247.978 and the rules and administrative regulations of the corporation.

The corporation shall require that all proceeds of its loans to or deposits w ith

lending institutions, or an equivalent amount, shall be used by the lending

institutions to make agricultural loans, subject to the terms and conditions as the

corporation may prescribe.

(3) To the extent that any provisions of this section may be inco nsistent with any

provision of law governing lending institutions, the provisions of this section shall

control.