§ 2279a–2 - Powers of merged banks

CHAPTER 23— FARM CREDIT SYSTEM › SUBCHAPTER VII— RESTRUCTURING OF SYSTEM INSTITUTIONS

(a) Except as otherwise provided in this subchapter, a merged bank shall have all of the powers granted to, and shall be subject to all of the obligations imposed on, any of the constituent entities of the merged bank.

(b) The Farm Credit Administration shall issue regulations that establish the manner in which the powers and obligations of the banks that form the merged bank are consolidated, and to the extent necessary, reconciled in the merged bank.