agricultural bank

(4) Definitions As used in this subsection— (A) the term “agricultural bank” means a bank— (i) the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) which is located in an area the economy of which is dependent on agriculture; (iii) which has assets of $100,000,000 or less; and (iv) which has— (I) at least 25 percent of its total loans in qualified agricultural loans; or (II) fewer than 25 percent of its total loans in qualified agricultural loans but which the appropriate Federal banking agency or State bank commissioner recommends to the Corporation for eligibility under this section, or which the Corporation, on its motion, deems eligible; and (B) the term “qualified agricultural loan” means a loan made to finance the production of agricultural products or livestock in the United States, a loan secured by farmland or farm machinery, or such other category of loans as the appropriate Federal banking agency may deem eligible.

Source

12 USC § 1823(j)(4)


Scoping language

As used in this subsection
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