{"data":{"id":"us/12-u.s.c.-2279d","jurisdiction":"us","citation":"12 U.S.C. § 2279d","heading":"Termination of System institution status","body":"(a) ConditionsA System institution may terminate the status of the institution as a System institution if—(1) the institution provides written notice to the Farm Credit Administration Board not later than 90 days prior to the proposed termination date; (2) the termination is approved by the Farm Credit Administration Board; (3) the appropriate Federal or State authority grants approval to charter the institution as a bank, savings and loan association, or other financial institution; (4) the institution pays to the Farm Credit Insurance Fund the amount by which the total capital of the institution exceeds 6 percent of the assets; (5) the institution pays or makes adequate provision for payment of all outstanding debt obligations of the institution; (6) the termination is approved by a majority of the stockholders of the institution voting, in person or by written proxy, at a duly authorized stockholders’ meeting, held prior to giving notice to the Farm Credit Administration Board; and (7) the institution meets such other conditions as the Farm Credit Administration Board by regulation considers appropriate. (b) EffectOn termination of its status as a System institution—(1) the Farm Credit Administration Board shall revoke the charter of the institution; and (2) the institution shall no longer be an instrumentality of the United States under this chapter.","path":["Title 12—BANKS AND BANKING","CHAPTER 23—FARM CREDIT SYSTEM"],"source_url":"https://uscode.house.gov/download/releasepoints/us/pl/119/103/xml_usc12@119-103.zip","current_through":"Public Law 119-103 (09/02/2026)","vintage":"","retrieved_at":"2026-09-10T05:56:24Z","sha256":"915c3eb67144e4f0c722fb114af3e6814c9cd6105f91107c2b1aadc114e6e405","source_id":"us","stale":true,"prev":"us/12-u.s.c.-2279c-2","next":"us/12-u.s.c.-2279e"},"notice":"GroundRules: Original legal text. Not legal advice."}