[Federal Register Volume 78, Number 144 (Friday, July 26, 2013)]
[Rules and Regulations]
[Page 45051]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17996]



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  Federal Register / Vol. 78, No. 144 / Friday, July 26, 2013 / Rules 
and Regulations  

[[Page 45051]]



FARM CREDIT ADMINISTRATION

12 CFR Parts 604, 611, 612, 619, 620, 621, 622, 623, and 630

RIN 3052-AC65


Unincorporated Business Entities; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Final rule; notice of effective date.

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SUMMARY: The Farm Credit Administration adopted a final rule to 
establish a regulatory framework for Farm Credit System institutions' 
use of unincorporated business entities organized under State law for 
certain business activities. In accordance with the law, the effective 
date of the final rule is 30 days from the date of publication in the 
Federal Register during which either or both Houses of Congress are in 
session.

DATES: Under the authority of 12 U.S.C. 2252, the regulation amending 
12 CFR parts 604, 611, 612, 619, 620, 621, 622, 623, and 630 published 
on May 28, 2013 (78 FR 31822) is effective July 22, 2013.

FOR FURTHER INFORMATION CONTACT: Elna Luopa, Policy Analyst, Office of 
Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090, 
(703) 883-4414, TTY (703) 883-4056;
    or
    Wendy Laguarda, Assistant General Counsel, Office of General 
Counsel, Farm Credit Administration, McLean, Virginia 22102-5090, (703) 
883-4020, TTY (703) 883-4056.

SUPPLEMENTARY INFORMATION: The Farm Credit Administration adopted a 
final rule to establish a regulatory framework for Farm Credit System 
(System) institutions' use of unincorporated business entities (UBEs) 
organized under State law for certain business activities. A UBE 
includes limited partnerships (LPs), limited liability partnerships 
(LLPs), limited liability limited partnerships (LLLPs), limited 
liability companies (LLCs), and any other unincorporated business 
entities, such as unincorporated business trusts, organized under State 
law. The final rule does not apply to UBEs that one or more System 
institutions may establish as Rural Business Investment Companies 
(RBICs) pursuant to the institutions' authority under the provisions of 
title VI of the Farm Security and Rural Investment Act of 2002, as 
amended (FSRIA), and United States Department of Agriculture (USDA) 
regulations implementing FSRIA. This rule does apply, however, to 
System institutions that organize UBEs for the express purpose of 
investing in RBICs. In accordance with 12 U.S.C. 2252, the effective 
date of the final rule is 30 days from the date of publication in the 
Federal Register during which either or both Houses of Congress are in 
session. Based on the records of the sessions of Congress, the 
effective date of the regulations is July 22, 2013.

(12 U.S.C. 2252(a)(9) and (10))

    Dated: July 23, 2013.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2013-17996 Filed 7-25-13; 8:45 am]
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