110 STAT. 162 PUBLIC LAW 104-105—FEB. 10, 1996 Public Law 104-105 104th Congress Feb. 10, 1996 [H.R. 2029] Farm Credit System Reform Act of 1996. Loans. 12 USC 2001 note. An Act To amend the Farm Credit Act of 1971 to provide regulatory relief, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE. —This Act may be cited as the "Farm Credit System Reform Act of 1996". (b) TABLE OF CONTENTS. —The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—AGRICULTURAL MORTGAGE SECONDARY MARKET Sec. 101. Definition of real estate. Sec. 102. Definition of certified facility. Sec. 103. Duties of Federal Agricultural Mortgage Corporation. Sec. 104. Powers of the Corporation. Sec. 105. Federal reserve banks as depositaries and fiscal agents. Sec. 106. Certification of agricultural mortgage marketing facilities. Sec. 107. Guarantee of qualified loans. Sec. 108. Mandatory reserves and subordinated participation interests eliminated. Sec. 109. Standards requiring diversified pools. Sec. 110. Small farms. Sec. 111. Definition of an afliliate. Sec. 112. State usury laws superseded. Sec. 113. Extension of capital transition period. Sec. 114. Minimum capital level. Sec. 115. Critical capital level. Sec. 116. Enforcement levels. Sec. 117. Recapitalization of the Corporation. Sec. 118. Liquidation of the Federal Agricultural Mortgage Corporation. TITLE II—REGULATORY RELIEF Sec. 201. Compensation of association personnel. Sec. 202. Use of private mortgage insurance. Sec. 203. Removal of certain borrower reporting requirement. Sec. 204. Reform of regulatory limitations on dividend, member business, and voting practices of eligible farmer-owned cooperatives. Sec. 205. Removal of Federal Government certification requirement for certain private sector financings. Sec. 206. Borrower stock. Sec. 207. Disclosure relating to adjustable rate loans. Sec. 208. Borrowers' rights. Sec. 209. Formation of administrative service entities. Sec. 210. Joint management agreements. Sec. 211. Dissemination of quarterly reports. Sec. 212. Regulatory review. Sec. 213. Examination of farm credit system institutions. Sec. 214. Conservatorships and receiverships. Sec. 215. Farm Credit Insurance Fund operations. Sec. 216. Examinations by the Farm Credit System Insurance Corporation. Sec. 217. Powers with respect to troubled insured System banks.
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