Related Organizations

Agricultural Credit Corporation [12 USC 24(Seventh)]

A bank may purchase, for its own account, stock of a corporation organized to make loans to farmers and ranchers for agricultural purposes. Such equity investments in agricultural credit corporations are limited to 20 percent of the unimpaired capital and unimpaired surplus of the bank, unless it owns at least 80 percent of the stock of the agricultural credit corporation. While prior approval is not required, written notice must be provided to the appropriate OCC office within 10 days after making such an investment. (See 12 CFR 5.36 and the Comptroller’s Licensing Manual, "Investment in Subsidiaries and Equities," for additional information.)

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