12 2 STA T . 11 54PUBLIC LA W 11 0– 2 3 4 —M A Y 22 , 200 8‘ ‘ SEC.365 . RU R ALD E V EL OPM E NT AND F ARM LOAN PRO G RAM ACT I VI - TIES. ‘ ‘ TheS e cr e ta r ym ay no t com pl ete a s t ud yo f, or enter i nto a contract w ith a pri v ate party to carry out, without specific authori z ation in a su b se q uent A ct of C on g ress, a competitive sourcing activity of the Secretary, including support personnel of the D epartment of Agriculture, relating to rural development or farm loan programs .’ ’. Subti t leE—FarmC re d it SEC. 5 401 . FARM CREDIT S Y STEM INSURANCE CORPORATION. ( a )INGE NE RAL . — Section 1 .1 2 (b) of the F arm Credit Act of 1 97 1 (12 U .S.C. 2 0 20(b)) is amended— (1) in the first sentence, by stri k ing ‘‘ E ach Farm’’ and inserting the following
‘‘(1) IN G ENERAL.—Each Farm’’; and (2) by striking the second sentence and inserting the fol - lowing
‘‘(2) C OMPUT AT I ON.—The assessment on any association or other financing institution described in paragraph (1) for any period shall be computed in an equitable manner, as determined by the Corporation.’’. (b) R ULE S AN D REGULATIONS.—Section 5 .5 8 (10) of such Act (12 U.S.C. 2277a-7(10)) is amended by inserting ‘‘and section 1.12(b)’’ after ‘‘part’’. SEC. 540 2 . TEC H NICAL CORRECTION. Section 3 .3(b) of the Farm Credit Act of 1971 (12 U.S.C. 212 4 (b)) is amended in the first sentence by striking ‘‘per’’ and inserting ‘‘par’’. SEC. 5403. B AN K FOR COOPERATIVES VOTING STOCK. (a) IN GENERAL.—Section 3.3(c) of the Farm Credit Act of 1971 (12 U.S.C. 2124(c)) is amended by striking ‘‘and (ii)’’ and inserting ‘‘(ii) other categories of persons and entities described in sections 3.7 and 3.8 eligible to borrow from the bank, as deter- mined by the bank’s board of directors; and (iii)’’. (b) CON F ORMING AMENDMENTS.—Section 4.3A(c)(1)(D) of such Act (12 U.S.C. 2154a(c)(1)(D)) is amended by redesignating clauses (ii) and (iii) as clauses (iii) and (iv), respectively, and inserting after clause (i) the following: ‘‘(ii) persons and entities eligible to borrow from the banks for cooperatives, as described in section 3.3(c)(ii);’’. SEC. 5404. PREMIUMS. (a) AMOUNT IN FUND N OTE XC EEDING SECURE B ASE AMOUNT.— Section 5.55(a) of the Farm Credit Act of 1971 (12 U.S.C. 2277a- 4(a)) is amended— (1) in paragraph (1)— (A) in the matter preceding subparagraph (A)— (i) by striking ‘‘paragraph (2)’’ and inserting ‘‘para- graph (3)’’; and (ii) by striking ‘‘annual’’ ; and (B) by striking subparagraphs (A) through (D) and inserting the following: 7USC20 0 8.
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