[Source: Section 2[13(g), earlier 13(f)] of Work out-of September 21, 1950 (Bar. 797; 64 Stat. 889), energetic Sep 21, 1950, just like the redesignated from the area 113(m) from label We of your Work of Oct 15, 1982 (Pub. 97–320; 96 Stat. 1474), effective October 15, 1982]

(h) Reopening otherwise Aversion regarding Closure of Covered Branch regarding Foreign Financial .–New efforts conferred on Board off Directors and Agency by this part to achieve this so you’re able to reopen an insured depository institution inside standard or perhaps to prevent the brand new standard out-of a covered depository institution can be utilized regarding a covered department regarding a different bank if, throughout the judgment of the Panel out of Directors, people need for preventing the standard of these part significantly outweighs any additional likelihood of loss towards Put Insurance rates Funds which the exercise of such powers do entail.

[Source: Point dos[13(h), formerly thirteen(g)] of your own Act out-of Sep 21, 1950 (Bar. 797), just like the extra from the section 6(c)(24) of the Act regarding Sep 17, 1978 (Bar. 95–369; ninety-five Stat. 619), productive Sep 17, 1978; and also as redesignated of the point 113(m) regarding title I of the Act of Oct fifteen, 1982 (Club. 97–320; 96 Stat. 1474), active finished by the areas 201(a)(1) and you can 217(6) regarding title II of your own Operate out of August 9, 1989 (Pub. 101–73; 103 Stat. 187 and you may 258), energetic August 9, 1989; section 8(a)(19)(F) of Work of (Club. 109–173; 119 Stat. 3613), active date should start working at the time of merger of your Lender Insurance coverage Finance plus the Deals Association Insurance rates Fund pursuant with the Government Deposit Insurance policies Reform Operate regarding 2005]

(1) ELIGIBLITY.–The appropriate Government financial agency shall allow an agricultural bank to grab the actions referred to during the paragraph (2) whether it finds out one–

L. No

(A) there is absolutely no proof one to swindle otherwise criminal discipline towards the the main financial led to this new loss referred to for the paragraph (2); and you will

(B) brand new agricultural financial has actually a decide to fix its resource, not after as compared to close of your amortization months based below section (2), so you’re able to an amount recommended of the compatible Government banking agency.

One losings that instance bank perform otherwise be required to reveal to your their yearly economic statements because of any such reappraisal ortized on the their financial statements during a period of not to exceed seven decades, while the considering into the rules issued from the appropriate Government banking agencies

(2) SEVEN-Year Losses AMORTIZATION.–(A) One losings to your one licensed agricultural mortgage one to an agricultural financial carry out if not be asked to reveal towards its annual financial record for your seasons between ortized into the monetary statements more a age of not to surpass 7 age, while the given within the rules approved from the suitable Federal financial department.

(B) An agricultural lender can get reappraise people a property or other possessions, actual or personal, which gotten coincident towards while making off a professional farming mortgage and this had into the January step one, 1983, and you can these most property so it acquires in advance of January step one, 1992.

(3) Statutes.–Perhaps not after than just 90 days immediately after [August 10, 1987], the latest time out-of enactment associated with the subsection, the loans how to get credit loan with no bank account proper Government banking service shall procedure rules using this subsection in terms of finance companies this supervises, and additionally legislation applying the main city repair requirement of part (1)(B).

(II) less than 25 % of its total money for the accredited agricultural financing however, which the compatible Government financial company or County lender administrator advises towards the Enterprise getting qualifications under that it part, otherwise that your Agency, towards its activity, deems qualified; and you will