### Question
How does the law define insured obligation?


### Answer
Under *12 U.S.C. § 2277a*, **insured obligation** is defined as:

> any note, bond, debenture, or other obligation issued under subsection (c) or (d) of section 2153 of this title—


(A) on or before January 5, 1989, on behalf of any System bank

#### Citation:
  - *12 U.S.C. § 2277a*
  - Heading: **CHAPTER 23-FARM CREDIT SYSTEM > SUBCHAPTER V-FARM CREDIT ADMINISTRATION ORGANIZATION > Part E-Farm Credit System Insurance Corporation**

