CONSERVATORS AND RECEIVERS.

SEC. 306. CONSERVATORS AND RECEIVERS. Section 4.12(b) (12 U.S.C. 2183(b)) is amended— (1) by striking out the period at the end of paragraph (5) and inserting in lieu thereof a semicolon; (2) by inserting after paragraph (5) the following new paragraph: “(6) the institution is unable to timely pay principal or interest on any insured obligation (as defined in section 5.51(3)) issued by the institution.”; and (3) in the second sentence by inserting before the period at the end thereof the following: “, and such receiver or conservator, after the 5-year period beginning on the date of the enactment of the Agricultural Credit Act of 1987, shall be the Farm Credit System Insurance Corporation”.