1982—Pub. L. 97–320, § 503, substituted “each subscribe either individually or collectively” for “subscribe”.

Par. (4). Pub. L. 97–320, § 504, substituted “the initial par value of the shares” for “the par value of the shares, which shall be $5 each”.

1978—Pub. L. 95–630 substituted “Board” for “Administrator”.

1970—Pub. L. 91–206 substituted “Administrator” for “Director”.

1959—Pub. L. 86–354 changed “The” to “the” in subsecs. (1) to (7) and the period to a semicolon in subsecs. (1) to (6) and inserted “and” at end of subsec. (6).

Amendment by Pub. L. 95–630 effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 of Pub. L. 95–630, set out as a note under section 1752 of this title.

Transfer of functions of Farm Credit Administration and Governor thereof, generally, see notes set out under section 1751 of this title.

Functions of Governor of Farm Credit Administration under this section transferred to Federal Deposit Insurance Corporation by Reorg. Plan No. 1 of 1947.