OTHER AMENDMENTS.

SEC. 901. OTHER AMENDMENTS. (a) Sections 1.21 and 2.8 are each amended by striking out “742(a)” and inserting in lieu thereof “3124”. (b) Sections 2.1(12) and 3.1(12) are each amended by striking out “as defined in section 2 of the Federal Deposit Insurance Act” and inserting in lieu thereof “(within the meaning of section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813))”. (c) Section 3.0 is amended by striking out “one or more” and all that follows through “this Act” and inserting in lieu thereof “another bank”. (d) Subsections (a) and (b) of section 3.2 are amended to read as follows: “(a) Each bank for cooperatives not merged into the United Bank for Cooperatives or the National Bank for Cooperatives shall elect a board of directors of such number, for such term, in such manner, and with such qualifications as may be required in its bylaws, except that at least one member shall be elected by the other directors, which member shall not be a director, officer, employee, or stockholder of a System institution. “(b) The board of directors of the Central Bank for Cooperatives shall consist of one member elected by the board of each bank for cooperatives, including the United Bank for Cooperatives if the Central Bank for Cooperatives is not merged into such bank, and one member appointed by the Farm Credit Administration.”. (e) Section 3.8(a)(4) is amended by striking out “district board” and inserting in lieu thereof “bank board”. (f) Section 4.12(a) is amended by striking out “district board” and inserting in lieu thereof “board of the supervising bank”. (g) Section 4.15 is amended by striking out “district” the first and second places it appears and inserting in lieu thereof “bank”. (h) Section 4.17 is amended by striking out “pursuant to section 2.3 of this Act” and inserting in lieu thereof “and Farm Credit Banks”. (i) Section 4.19(a) is amended by inserting “Farm Credit Bank” after “district”. (j) Section 4.19(b) is amended— (1) by striking out “The Federal land bank and the Federal intermediate credit bank” and inserting in lieu thereof “The Farm Credit Bank”; (2) by striking out “their” each place it appears and inserting in lieu thereof “its”; (3) by striking out “of this section”; (4) by striking out “banks” and inserting in lieu thereof “bank”; and (5) by striking out “a joint” and inserting in lieu thereof “an”. (k) Section 4.28 is amended— (1) by inserting “or associations” after “exempt banks”; and 102 STAT. 1008 (2) by striking out “1.21, 2.8,” and inserting in lieu thereof “1.15, 2.17,”. (l) Section 5.16 is amended by striking out “district” and inserting in lieu thereof “bank”. (m) Section 5.17(a) is amended— (1) in paragraph (1), by striking out “district boards” and inserting in lieu thereof “district banks”; (2) in paragraph (2), by striking out “boards of the districts” and inserting in lieu thereof “district bank boards”; and (3) in paragraph (3), by striking out “Federal land banks” and all that follows through “of this Act” and inserting in lieu thereof “Farm Credit Banks under section 4.19(b)”. (n) Section 5.17(d)(1) is amended— (1) by striking out “of this Act” each place it appears; and (2) by striking out “2.3” and inserting in lieu thereof “1.7(b)”. (o) The title heading of title V is amended to read as follows: “TITLE V—FARM CREDIT ADMINISTRATION ORGANIZATION”. (p) Title V is amended by striking out the heading of part A. (q) Section 5.0 is amended— (1) by striking out “Sec. 5.0. Creation of” and inserting in lieu thereof “(b) Farm Credit”; and (2) by striking out “district boards” and inserting in lieu thereof “boards of the banks in each district”. (r) The provision amended by subsection (q) of this section, as so amended, is hereby transferred to the end of section 1.2, where such transferred provision shall become a new subsection (b). (s) Section 1.2 is amended— (1) by inserting “(a) Composition.—” before “The Farm Credit System shall”; and (2) by striking out “the regulation” and inserting in lieu thereof “regulation”.