12 CFR 614.4110 : Banks And Banking (§ 1.1 To Parts 1816-1899) — (§ 600.1 To Parts 812-899) — Farm Credit Administration (§ 600.1 To Parts 656-699) — Farm Credit System (§ 609.905 To Parts 656-699) — Loan Policies And Operations (§ 614.4000 To Appendix B To Subpart S Of Part 614) — Bank/Association Lending Relationship (§ 614.4100 To § 614.4130) — Transfer of direct lending authority to Federal land bank associations and agricultural credit associations.

(a) Upon the transfer of authority to make and participate in long-term agricultural real estate mortgage loans by a Farm Credit Bank or agricultural credit bank to a Federal land bank association pursuant to section 7.6(a) of the Act and subpart E of part 611 of these regulations, the association shall be designated a Federal land credit association and shall have the powers set forth in § 614.4030.

(b) Upon the transfer of the authority to make and participate in long-term real estate loans by a Farm Credit Bank or agricultural credit bank to an agricultural credit association pursuant to section 7.6(d) of the Act, the association shall have all of the powers set forth in § 614.4050.

(c) An association to which such long-term lending authority is to be transferred shall have in place, prior to the transfer, policies and procedures guiding the extension and administration of credit within its territory.