12 USC § 2277a–5 - Certification of premiums
(a)
Filing certified statement
On a date to be determined in the sole discretion of the Board of Directors of the Corporation, each insured System bank that became insured before the beginning of the period for which premiums are being assessed (referred to in this section as the “period”) shall file with the Corporation a certified statement showing—
(2)
(3)
(b)
Contents and form of statement
The certified statement required to be filed with the Corporation under subsection (a) of this section shall be in such form and set forth such supporting information as the Board of Directors shall prescribe, and shall be certified by the president of the bank or any other officer designated by its board of directors that to the best of the person’s knowledge and belief the statement is true, correct, complete, and has been prepared in accordance with this part and all regulations issued thereunder.
(c)
Premium payments
(a)
Filing certified statement
On a date to be determined in the sole discretion of the Board of Directors of the Corporation, each insured System bank that became insured before the beginning of the period for which premiums are being assessed (referred to in this section as the “period”) shall file with the Corporation a certified statement showing—
(2)
(3)
(b)
Contents and form of statement
The certified statement required to be filed with the Corporation under subsection (a) of this section shall be in such form and set forth such supporting information as the Board of Directors shall prescribe, and shall be certified by the president of the bank or any other officer designated by its board of directors that to the best of the person’s knowledge and belief the statement is true, correct, complete, and has been prepared in accordance with this part and all regulations issued thereunder.
(c)
Premium payments
Source
(Pub. L. 92–181, title V, § 5.56, as added Pub. L. 100–233, title III, § 302,Jan. 6, 1988, 101 Stat. 1612; amended Pub. L. 100–399, title III, § 302(f),Aug. 17, 1988, 102 Stat. 994; Pub. L. 101–624, title XVIII, § 1835,Nov. 28, 1990, 104 Stat. 3833; Pub. L. 104–105, title II, § 215(a)(2)(B),Feb. 10, 1996, 110 Stat. 176; Pub. L. 107–171, title V, § 5403(a)(2)(B),May 13, 2002, 116 Stat. 351; Pub. L. 110–234, title V, § 5405,May 22, 2008, 122 Stat. 1157; Pub. L. 110–246, § 4(a), title V, § 5405,June 18, 2008, 122 Stat. 1664, 1919.)
Codification
Pub. L. 110–234and Pub. L. 110–246made identical amendments to this section. The amendments by Pub. L. 110–234were repealed by section 4(a) ofPub. L. 110–246.
Amendments
2008—Subsec. (a). Pub. L. 110–246, § 5405(a), added subsec. (a) and struck out former subsec. (a) which related to the required annual filing of a certified statement from each insured System bank that became insured before the beginning of the year.
Subsec. (c). Pub. L. 110–246, § 5405(b), added subsec. (c) and struck out former subsec. (c). Prior to amendment, text read as follows: “Each System bank shall pay to the Corporation the amount of the initial premium it is required to certify under subsection (a) of this section as soon as practicable after January 1, 1990, based on the application of section
2277a–4 of this title to the accruing loan volume of the bank for calendar year 1989.”
Subsecs. (d), (e). Pub. L. 110–246, § 5405(c), redesignatedsubsec. (e) as (d) and struck out former subsec. (d). Prior to amendment, text read as follows: “The premium payments required from insured System banks under subsection (a) of this section shall be made not less frequently than annually in such manner and at such time or times as the Board of Directors shall prescribe, except that the amount of the premium shall be established not later than 60 days after filing the certified statement setting forth the amount of the premium.”
2002—Subsec. (a)(1). Pub. L. 107–171, § 5403(a)(2)(B)(i), inserted “and Government Sponsored Enterprise-guaranteed loans (as defined in section
2277a–4
(a)(4) of this title)” after “government-guaranteed loans”.
Subsec. (a)(4) to (6). Pub. L. 107–171, § 5403(a)(2)(B)(ii), (iii), added par. (4) and redesignated former pars. (4) and (5) as (5) and (6), respectively.
1996—Subsec. (a)(2), (3). Pub. L. 104–105substituted “2277a–4(a)(3) of this title” for “2277a–4(a)(2) of this title”.
1990—Subsec. (a). Pub. L. 101–624amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “Annually, on a date to be determined in the sole discretion of the Board of Directors, each insured System bank that became insured before the beginning of the year shall file with the Corporation a certified statement showing the annual average principal outstanding on loans made by the bank that are in accrual status, the annual average principal outstanding on loans that are in nonaccrual status, and the amount of the premium due the Corporation from the bank for such year.”
1988—Subsec. (a). Pub. L. 100–399substituted “of the year” for “of such year”.
Effective Date of 2008 Amendment
Amendment of this section and repeal of Pub. L. 110–234by Pub. L. 110–246effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 ofPub. L. 110–246, set out as an Effective Date note under section
8701 of Title
7, Agriculture.
Effective Date of 2002 Amendment
Amendment by Pub. L. 107–171applicable with respect to determinations of premiums for calendar year 2002 and for any succeeding calendar year, and to certified statements with respect to such premiums, see section 5403(b) ofPub. L. 107–171, set out as a note under section
2020 of this title.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–399effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) ofPub. L. 100–399, set out as a note under section
2002 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, May 21, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
| 12 USC | Description of Change | Session Year | Public Law | Statutes at Large |
|---|
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.
This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].
It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.
