STATUTORY SUCCESSOR TO ASSISTANCE BOARD AGREEMENTS.

SEC. 202. STATUTORY SUCCESSOR TO ASSISTANCE BOARD AGREEMENTS. (a) In General.— Section 5.58(2) (12 U.S.C. 2277a–7(2)) is amended by adding at the end the following new sentence: “The Corporation shall succeed to the rights of the Farm Credit System Assistance Board under agreements between the Farm Credit System Assistance Board and System institutions certifying the institutions as eligible to issue preferred stock pursuant to title VI on the termination of the Assistance Board on the date provided in section 6.12.”. 106 STAT. 4106 (b) Conforming Amendments.— Section 5.35(4) (12 U.S.C. 2271(4)) is amended— (1) by striking “and” at the end of subparagraph (A); (2) by striking the period at the end of subparagraph (B) and inserting “; and”; and (3) by adding at the end the following new subparagraph: “(C) after December 31, 1992, mean any significant noncompliance by a System institution (as determined by the Farm Credit Administration, in consultation with the Farm Credit System Insurance Corporation) with any term or condition imposed on the institution by the Farm Credit System Assistance Board under section 6.6 or by the Farm Credit System Insurance Corporation under section 5.61.”.