ROBERT L. EHRLICH, JR., Governor                             Ch. 467

RIGHTS OF HOLDERS OF THE BONDS OF THE CORPORATION, AT PUBLIC OR PRIVATE
SALE, WITH OR WITHOUT PUBLIC BIDDING;

(10)    BORROW MONEY, ISSUE BONDS, AND PROVIDE FOR THE RIGHTS OF
THE LENDERS OR HOLDER THEREOF AND PURCHASE, DISCOUNT, SELL, NEGOTIATE
AND GUARANTEE, INSURE, CO-INSURE AND REINSURE NOTES, DRAFTS, CHECKS,
BILLS OF EXCHANGE, ACCEPTANCES, BANKERS' ACCEPTANCES, CABLE TRANSFERS,
LETTERS OF CREDIT, AND OTHER EVIDENCE OF INDEBTEDNESS;

(11)    SUBJECT TO THE RIGHTS OF HOLDERS OF THE BONDS OF THE
CORPORATION, CONSENT TO ANY MODIFICATION WITH RESPECT TO THE RATE OF
INTEREST, TIME, PAYMENT OF ANY INSTALLMENT OF PRINCIPAL OR INTEREST,
SECURITY, OR ANY OTHER TERM OR CONDITION OF ANY LOAN, CONTRACT,
MORTGAGE, MORTGAGE LOAN, OR COMMITMENT OR AGREEMENT OF ANY KIND TO
WHICH THE CORPORATION IS A PARTY OR BENEFICIARY; AND

(12)    ISSUE REVENUE BONDS UNDER § 13-510 OF THIS SUBTITLE.
13-509.

(A)     (1) THE CORPORATION MAY PURCHASE OR CONTRACT TO PURCHASE
AND SELL OR CONTRACT TO SELL AGRICULTURAL LOANS MADE BY LENDING
INSTITUTIONS, AT THE PRICES AND ON THE TERMS AND CONDITIONS THAT IT
DETERMINES.

(2) A LENDING INSTITUTION MAY PURCHASE AND SELL AGRICULTURAL
LOANS TO THE CORPORATION IN ACCORDANCE WITH THE PROVISIONS OF THIS
SECTION.

(B)     (1) THE CORPORATION MAY MAKE, OR CONTRACT TO MAKE, LOANS TO
AND DEPOSITS WITH LENDING INSTITUTIONS AT INTEREST RATES, TERMS, AND
CONDITIONS THAT IT DETERMINES.

(2)      A LENDING INSTITUTION MAY BORROW FUNDS AND ACCEPT
DEPOSITS FROM THE CORPORATION IN ACCORDANCE WITH THIS SUBTITLE AND THE
BYLAWS OF THE CORPORATION.

(3)      THE CORPORATION SHALL REQUIRE THAT ALL PROCEEDS OF ITS
LOANS TO OR DEPOSITS WITH LENDING INSTITUTIONS, OR AN EQUIVALENT
AMOUNT, SHALL BE USED BY THE LENDING INSTITUTIONS TO MAKE AGRICULTURAL
LOANS, SUBJECT TO TERMS AND CONDITIONS THAT THE CORPORATION MAY
PRESCRIBE.

(C)     THE CORPORATION MAY INSURE AND REINSURE AGRICULTURAL LOANS
MADE BY LENDING INSTITUTIONS, SUBJECT TO THE TERMS, CONDITIONS,
LIMITATIONS, COLLATERAL AND SECURITY PROVISIONS, AND RESERVE
REQUIREMENTS DETERMINED BY THE CORPORATION IN ACCORDANCE WITH THE
BYLAWS OF THE CORPORATION.

(D)     UNLESS OTHERWISE DETERMINED BY THE CORPORATION,
AGRICULTURAL LOANS SHALL BE INSURED TO THE AMOUNT OF 100% OF THE UNPAID
PRINCIPAL AND INTEREST ON EACH LOAN.

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