---
kind: "section"
citation: "12 U.S.C. § 2145"
title: "12"
title_heading: "Banks and Banking"
number: "2145"
heading: "Exchange of ownership interests"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/2145"
units:
  - "Chapter 23 — Farm Credit System"
  - "Subchapter III — Banks for Cooperatives"
  - "Part B — National Banks for Cooperatives"
---

# §2145. Exchange of ownership interests


On the establishment of the consolidated bank, ownership interests of the stockholders and subscribers to the guaranty funds of the constituent district banks for cooperatives (including stock, participation certificates, and allocated equities) shall be exchanged for like ownership interests in the consolidated bank on a book value basis.


## Source credit

(Pub. L. 92–181, title III, § 3.24, as added Pub. L. 100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat. 1644.)