---
kind: "section"
citation: "12 U.S.C. § 1020c"
title: "12"
title_heading: "Banks and Banking"
number: "1020c"
heading: "Repealed. Pub. L. 87–353, § 3(a), Oct. 4, 1961, 75 Stat. 773"
status: "repealed"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1020c"
units:
  - "Chapter 7 — Farm Credit Administration"
  - "Subchapter II–A — Federal Farm Mortgage Corporation"
---

# [§1020c. Repealed. Pub. L. 87–353, § 3(a), Oct. 4, 1961, 75 Stat. 773 — repealed]



## Notes

Section 1020b, acts Jan. 31, 1934, ch. 7, § 3, 48 Stat. 345; June 25, 1940, ch. 427, § 4, 54 Stat. 573; June 30, 1945, ch. 204, § 14, 59 Stat. 269; July 12, 1946, ch. 570, § 2, 60 Stat. 532, prescribed the capital of the Federal Farm Mortgage Corporation to be in the sum of $200,000,000 and provided for subscription by the United States and repayment by the Corporation.

Section 1020c, acts Jan. 31, 1934, ch. 7, § 4(a), 48 Stat. 345; Apr. 27, 1934, ch. 168, § 14, 48 Stat. 647, authorized the issuance of bonds not exceeding $2,000,000,000 at any one time and provided for purchase and sale by United States and exchange of such bonds for consolidated farm loan bonds.