H.R.7862 - A bill to amend the Farm Credit Act of 1971 relating to credit eligibility for cooperatives serving agricultural producers, and to enlarge the access of production credit associations to Federal district courts.94th Congress (1975-1976)
|Sponsor:||Rep. Bergland, Bob [R-MN-7] (Introduced 06/12/1975)|
|Committees:||House - Agriculture | Senate - Agriculture|
|Committee Reports:||S.Rept 94-554; H.Rept 94-609|
|Latest Action:||12/31/1975 Public law 94-184. (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.7862 — 94th Congress (1975-1976)All Information (Except Text)
(Reported to House from the Committee on Agriculture with amendment, H. Rept. 94-609)
Reported to House with amendment(s) (11/01/1975)
Reduces to 70 percent the percentage of voting control which must be held by farmers, producers, or harvesters in order for rural electric, telephone, and public utility cooperatives to be eligible to borrow from banks for cooperatives under the Farm Credit Act of 1971.
Removes the prohibitions against Federal jurisdiction in suits against institutions of the Farm Credit System.