12 USC § 635f - Termination date of Bank’s functions; exceptions; liquidation

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Current through Pub. L. 112-238. (See Public Laws for the current Congress.)

Export-Import Bank of the United States shall continue to exercise its functions in connection with and in furtherance of its objects and purposes until the close of business on September 30, 2014, but the provisions of this section shall not be construed as preventing the bank from acquiring obligations prior to such date which mature subsequent to such date or from assuming prior to such date liability as guarantor, endorser, or acceptor of obligations which mature subsequent to such date or from issuing, either prior or subsequent to such date, for purchase by the Secretary of the Treasury or any other purchasers, its notes, debentures, bonds, or other obligations which mature subsequent to such date or from continuing as a corporate agency of the United States and exercising any of its functions subsequent to such date for purposes of orderly liquidation, including the administration of its assets and the collection of any obligations held by the bank.

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Export-Import Bank of the United States shall continue to exercise its functions in connection with and in furtherance of its objects and purposes until the close of business on September 30, 2011, but the provisions of this section shall not be construed as preventing the bank from acquiring obligations prior to such date which mature subsequent to such date or from assuming prior to such date liability as guarantor, endorser, or acceptor of obligations which mature subsequent to such date or from issuing, either prior or subsequent to such date, for purchase by the Secretary of the Treasury or any other purchasers, its notes, debentures, bonds, or other obligations which mature subsequent to such date or from continuing as a corporate agency of the United States and exercising any of its functions subsequent to such date for purposes of orderly liquidation, including the administration of its assets and the collection of any obligations held by the bank.

Source

(July 31, 1945, ch. 341, § 7, formerly § 8,59 Stat. 529; June 9, 1947, ch. 101, § 3,61 Stat. 131; Oct. 3, 1951, ch. 445, § 1(c),65 Stat. 367; Pub. L. 85–55, June 17, 1957, 71 Stat. 82; Pub. L. 88–101, § 2,Aug. 20, 1963, 77 Stat. 128; Pub. L. 90–267, § 1(a), (f),Mar. 13, 1968, 82 Stat. 47, 49; Pub. L. 92–126, § 1(b)(4),Aug. 17, 1971, 85 Stat. 345; Pub. L. 93–331, July 4, 1974, 88 Stat. 289; Pub. L. 93–374, Aug. 14, 1974, 88 Stat. 445; Pub. L. 93–425, Sept. 30, 1974, 88 Stat. 1166; Pub. L. 93–450, Oct. 18, 1974, 88 Stat. 1368; Pub. L. 93–646, § 9,Jan. 4, 1975, 88 Stat. 2336; Pub. L. 95–143, § 4,Oct. 26, 1977, 91 Stat. 1211; Pub. L. 95–407, Sept. 30, 1978, 92 Stat. 882; Pub. L. 95–630, title XIX, § 1906,Nov. 10, 1978, 92 Stat. 3725; Pub. L. 98–109, § 6,Oct. 1, 1983, 97 Stat. 746; Pub. L. 98–143, Nov. 1, 1983, 97 Stat. 916; Pub. L. 98–181, title VI, § 611,Nov. 30, 1983, 97 Stat. 1254; Pub. L. 99–472, § 14,Oct. 15, 1986, 100 Stat. 1204; renumbered § 7 and amended Pub. L. 102–429, title I, §§ 102, 121 (c)(2),Oct. 21, 1992, 106 Stat. 2187, 2199; Pub. L. 105–46, § 122,Sept. 30, 1997, 111 Stat. 1158; Pub. L. 105–121, § 2(a),Nov. 26, 1997, 111 Stat. 2528; Pub. L. 107–189, § 3,June 14, 2002, 116 Stat. 699; Pub. L. 109–438, § 2,Dec. 20, 2006, 120 Stat. 3268.)

Prior Provisions

A prior section 7 of act July 31, 1945, ch. 341, was renumbered section 6 and is classified to section 635e of this title.

Amendments

2006—Pub. L. 109–438substituted “2011” for “2006”.

2002—Pub. L. 107–189substituted “September 30, 2006” for “September 30, 2001”.

1997—Pub. L. 105–121substituted “September 30, 2001” for “September 30, October 23, 1997”.

Pub. L. 105–46substituted “October 23, 1997” for “1997”.

1992—Pub. L. 102–429, § 102, substituted “1997” for “1992”.

1986—Pub. L. 99–472substituted “September 30, 1992” for “September 30, 1986”.

1983—Pub. L. 98–181substituted “September 30, 1986” for “November 18, 1983”.

Pub. L. 98–143substituted “November 18, 1983” for “October 31, 1983”.

Pub. L. 98–109substituted “October 31, 1983” for “September 30, 1983”.

1978—Pub. L. 95–630substituted “September 30, 1983” for “December 31, 1978”.

Pub. L. 95–407substituted “December 31, 1978” for “September 30, 1978”.

1977—Pub. L. 95–143substituted “September 30, 1978” for “June 30, 1978”.

1975—Pub. L. 93–646substituted “June 30, 1978” for “November 30, 1974”.

1974—Pub. L. 93–450substituted “November 30, 1974” for “October 15, 1974”.

Pub. L. 93–425substituted “October 15, 1974” for “September 30, 1974”.

Pub. L. 93–374substituted “September 30, 1974” for “July 30, 1974”.

Pub. L. 93–331substituted “July 30, 1974” for “June 30, 1974”.

1971—Pub. L. 92–126substituted “June 30, 1974” for “June 30, 1973” and “Secretary of the Treasury or any other purchasers” for “Secretary of the Treasury”.

1968—Pub. L. 90–267changed name of “Export-Import Bank of Washington” to “Export-Import Bank of the United States” and substituted “June 30, 1973” for “June 30, 1968”.

1963—Pub. L. 88–101substituted “June 30, 1968” for “June 30, 1963”.

1957—Pub. L. 85–55substituted “June 30, 1963” for “June 30, 1958”.

1951—Act Oct. 3, 1951, substituted “June 30, 1958” for “June 30, 1953”.

1947—Act June 9, 1947, struck out former section and inserted present section to provide for the termination of the Bank as of June 30, 1953, and its orderly liquidation thereafter.

Effective Date of 1997 Amendment

Section 2(b) ofPub. L. 105–121provided that: “The amendment made by this section [amending this section] shall take effect on September 30, 1997.”

Effective Date of 1978 Amendment

Amendment by Pub. L. 95–630effective Nov. 10, 1978, see section 1917 ofPub. L. 95–630, set out as a note under section 635 of this title.

Continuation of Bank Functions

Provisions extending the date that the Export-Import Bank of the United States could continue to exercise its functions in connection with and in furtherance of its objects and purposes notwithstanding the dates specified in this section and section 1(c) ofPub. L. 103–428, set out as an Effective and Termination Dates of 1994 Amendments note under section 635 of this title, were contained in the following acts:

Pub. L. 112–74, div. I, title VI, Dec. 23, 2011, 125 Stat. 1191, extending the date to May 31, 2012.

Pub. L. 107–186, § 1,May 30, 2002, 116 Stat. 589, extending the date to June 14, 2002.

Pub. L. 107–168, § 1,May 1, 2002, 116 Stat. 131, extending the date to May 31, 2002.

Pub. L. 107–156, § 1,Mar. 31, 2002, 116 Stat. 117, extending the date to Apr. 30, 2002.

Pub. L. 107–115, title V, § 588,Jan. 10, 2002, 115 Stat. 2174, extending the date to Mar. 31, 2002.

Pub. L. 107–44, § 115, as added by Pub. L. 107–48, Oct. 12, 2001, 115 Stat. 261, extending the date to Jan. 10, 2002.

Pub. L. 107–44, § 115,Sept. 28, 2001, 115 Stat. 256, extending the date to Oct. 16, 2001, prior to repeal by Pub. L. 107–48, Oct. 12, 2001, 115 Stat. 261.

Termination date for Bank’s functions was temporarily extended until the following dates by the acts listed below:

Until Nov. 7, 1997, by Pub. L. 105–64, Oct. 23, 1997, 111 Stat. 1343.

Until Nov. 9, 1997, by Pub. L. 105–68, Nov. 7, 1997, 111 Stat. 1453.

Until Nov. 10, 1997, by Pub. L. 105–69, Nov. 9, 1997, 111 Stat. 1454.

Until Nov. 14, 1997, by Pub. L. 105–71, Nov. 10, 1997, 111 Stat. 1456.

Until Nov. 26, 1997, by Pub. L. 105–84, Nov. 14, 1997, 111 Stat. 1628.

Financial Assistance to the Union of Soviet Socialist Republics

Section 1 ofPub. L. 93–450provided in part that the Bank shall not authorize any financial assistance to the Union of Soviet Socialist Republics during the life of Pub. L. 93–450, which extended the termination date from Oct. 15, 1974, to Nov. 30, 1974.

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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
§ 635f		2012	112-122 [Sec.] 2	126 Stat. 350

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12 USC § 635f - Termination date of Bank’s functions; exceptions; liquidation

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