In order to facilitate the development of indigenous credit unions in Poland and Hungary, it is the policy of the United States that—
(1)United States citizens, financial institutions (other than federally insured depository institutions), and other persons may make contributions and loans to, make capital deposits in, and provide other forms of financial and technical assistance to credit unions in Poland and Hungary; and
(2)federally insured depository institutions may provide technical assistance to credit unions in Poland and Hungary, to the extent that the provision of such assistance is prudent and not inconsistent with safe and sound banking practice.
For purposes of subsection (a) of this section—
(1)the term “credit union” means a member-owned, nonprofit, cooperative depository institution—
(A)which is formed to permit individuals in the field of membership specified in such institution’s charter to pool their savings, lend the savings to one another, and own the organization where they save, borrow, and obtain related financial services; and
(B)whose members are united by a common bond and democratically operate the institution; and
(2)the term “federally insured depository institution” means—
(A)any insured depository institution (as defined in section
1813(c)(2) of title
(B)any insured credit union (as defined in section
1752(7) of 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, August 13, 2013
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Description of Change
Statutes at Large
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