### Question
How is the term eligible borrower stock defined?


### Answer
The term **eligible borrower stock** is defined in *12 U.S.C. § 2162* as the following:

> borrower stock that—


(A) is outstanding on January 6, 1988

#### Citation:
  - *12 U.S.C. § 2162*
  - Heading: **CHAPTER 23-FARM CREDIT SYSTEM > SUBCHAPTER IV-PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM > Part A-Funding**

