Tarrant County, Fort Worth, Texas, farmers, stockmen and dairymen's directory : containing the names and addresses and amount assessed to each : acreage of farms and capacity of dairies. Parcel post rates and zones, also a complete copy Federal Farm Loan Act, suggestions, questions and answers regarding same Page: 41
80 p. : ill. ; 22 cm.View a full description of this book.
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associations, and advising investors of the
merits and advantages of farm loan bonds;
and to disseminate in its discretion information
for the further instruction of farmers
regarding the methods and principles
of cooperative credit ana organization
Said board is hereby authorized to use a
reasonable portion of the organization fund
provided in section thirty-three of this Act
for the objects specified in this paragraph,
and is instructed to lay before the Congress
at each session Its recommendations
for further appropriations to carry out said
objects.
Federal Land Banks.
Sec. 4. That as soon as practicable the
Federal Farm Loan Board shall divide the
continental United States, excluding
Alaska, into twelve districts, which shall be
known as Federal land bank districts, and
may be designated by number. Said districts
shall be apportioned with due regard
to the farm loan needs of the country, but
no such district shall contain a fractional
part of any State. The boundaries thereof
may be readjusted from time to time in the
discretion of said board.
The Federal Farm Loan Board shall
establish in each Federal land bank district
a Federal land bank, with its principal
office located in such city within the district
as said board shall designate. Each
Federal land bank shall include in its title
the name of the city in which it is located.
Subject to the approval of the Federal
Farm Loan Board, any Federal land bank
may establish branches within the land
bank district.
Each Federal land bank shall be temporarily
managed by five directors appointed
by the Federal Farm Loan Board.
Said directors shall be citizens of the
United States and residents of the district.
They shall each give a surety bond, the
premium on which shall be paid from the
funds of the bank. They snall receive such
compensation as the Federal Farm Loan
Board shall fix. They shall choose from
their number, by majority vote, a president,
a vice president, a secretary and a
treasurer. They are further authorized and
empowered to employ such attorneys, experts,
assistants, clerks, laborers, and other
employees as they may deem necessary,
and to fix their compensation, subject to
the approval of the Federal Farm Loan
Board.
Said temporary directors shall, under
their hands, forthwith make an organization certificate, which shall specifically
state:
First. The name assumed by such bank.
Second. The district within which its
operations are to be carried on, and the
tIarticular city in which its principal office
is to be located.
Third. The amount of capital stock and
the number of shares into which the same
is to be divided: Proviced, That every
Federal land bank organized under this
Act shall by its articles of association permit
an increase of its capital stock from
time to time for the purpose of providing
for the issue of shares to national farm
loan associations and stockholders who may
secure loans through agents of Federal
land banks in accordance with the provisions
of this Act.
Fourth. The fact that the certificate is
made to enable such persons to avail themselves
of the advantages of this Act. The
organization certificate shall be acknowledged
before a judge or clerk of some court
of record or notary public, and shall be together
with the acknowledgment thereof,
authenticated by the seal of such court or
notary, transmitted to the Farm Loan
Commissioner, who shall record and cart,fully
preserve the same in his offic,.
where it shall be at all times open to public
inspection.
The Federal Farm Loan Board is authorized
to direct such changes in or additions
to any such organization certificate,
not inconsistent with this Act, as it may
deem necessary or expedient.
Upon duly making and filing such organization
certificate the bank shall become,
as from the date of the execution of
its organization certificate, a body corporate,
and as such, and in the name designated
in the organization certificate, it
shall have powerFirst.
To adopt and use a corporate seal.
Second. To have succession until it is
dissolved by Act of Congress or under the
provisions of this Act.
Third. To make contracts.
Fourth. To sue and be sued, complain,
interplead, and defend, in any court of
law or equity, as fully as natural persons.
Fifth. To elect or appoint directors, and
by its board of directors to elect a president
and a vice president, appoint a secretary
and a treasurer and other officers and
employees, define their duties, require
bonds of them and fix the penalty thereof;
by action of its board of directors disCompliments of
W. E. MATTHEWSON
Treasurer Tarrant County6* Qw`I - - - 4OaNdIg - - -
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Tarrant County, Fort Worth, Texas, farmers, stockmen and dairymen's directory : containing the names and addresses and amount assessed to each : acreage of farms and capacity of dairies. Parcel post rates and zones, also a complete copy Federal Farm Loan Act, suggestions, questions and answers regarding same, book, 1917; Fort Worth. (https://texashistory.unt.edu/ark:/67531/metapth34954/m1/46/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Fort Worth Public Library.