12 USC § 1772c–1 - Community development revolving loan fund for credit unions | Title 12 - Banks and Banking | U.S. Code

USCPrelim is a preliminary release and may be subject to further revision before it is released again as a final version.

Current through Pub. L. 113-99. (See Public Laws for the current Congress.)

(a) In general

The Board may exercise the authority granted to it by the Community Development Credit Union Revolving Loan Fund Transfer Act, including any additional appropriation made or earnings accrued, subject only to this section and to regulations prescribed by the Board.

(b) Investment

The Board may invest any idle Fund moneys in United States Treasury securities. Any interest accrued on such securities shall become a part of the Fund.

(c) Loans

The Board may require that any loans made from the Fund be matched by increased shares in the borrower credit union.

(d) Interest

Interest earned by the Fund may be allocated by the Board for technical assistance to community development credit unions, subject to an appropriations Act.

(e) “Fund” defined

As used in this section, the term “Fund” means the Community Development Credit Union Revolving Loan Fund.

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(a) In general

The Board may exercise the authority granted to it by the Community Development Credit Union Revolving Loan Fund Transfer Act, including any additional appropriation made or earnings accrued, subject only to this section and to regulations prescribed by the Board.

(b) Investment

The Board may invest any idle Fund moneys in United States Treasury securities. Any interest accrued on such securities shall become a part of the Fund.

(c) Loans

The Board may require that any loans made from the Fund be matched by increased shares in the borrower credit union.

(d) Interest

Interest earned by the Fund may be allocated by the Board for technical assistance to community development credit unions, subject to an appropriations Act.

(e) “Fund” defined

As used in this section, the term “Fund” means the Community Development Credit Union Revolving Loan Fund.

Source

(June 26, 1934, ch. 750, title I, § 130, as added Pub. L. 103–325, title I, § 120(b),Sept. 23, 1994, 108 Stat. 2188.)

References in Text

The Community Development Credit Union Revolving Loan Fund Transfer Act, referred to in subsec. (a), is Pub. L. 99–609, Nov. 6, 1986, 100 Stat. 3475, which is set out as a note under section 9822 of Title 42, The Public Health and Welfare.

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The most recent Classification Table update that we have noticed was Friday, May 3, 2013

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12 USC	Description of Change	Session Year	Public Law	Statutes at Large

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12 CFR - Title 12—Banks and Banking

12 CFR Part 705 - COMMUNITY DEVELOPMENT REVOLVING LOAN FUND ACCESS FOR CREDIT UNIONS

12 USC § 1772c–1 - Community development revolving loan fund for credit unions

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