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12 U.S.C. § 1756 — Reports and examinations

submitted 92 years ago by ch. 750 to r/title-12-BANKS-AND-BANKING · 56 words · no verdicts yet

in plain englishAI-generated · not legal advice

Federal credit unions are supervised by the Board, must provide financial reports at least yearly, and must allow Board-designated examiners to inspect their books and records.

Federal credit unions are supervised by the Board. They must make financial reports to the Board whenever it requires them, but at least once a year. Each Federal credit union must be examined by a person the Board designates and must make its books and records accessible for that examination.
the actual law source: uscode.house.gov ↗public domain

Federal credit unions shall be under the supervision of the Board, and shall make financial reports to it as and when it may require, but at least annually. Each Federal credit union shall be subject to examination by, and for this purpose shall make its books and records accessible to, any person designated by the Board.

Source credit: (June 26, 1934, ch. 750, title I, § 106, formerly § 6, 48 Stat. 1218; Dec. 6, 1937, ch. 3, § 1, 51 Stat. 4; 1947 Reorg. Plan No. 1, § 401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948, ch. 711, §§ 1, 2, 62 Stat. 1091; renumbered § 7 and amended Pub. L. 86–354, § 1, Sept. 22, 1959, 73 Stat. 629; Pub. L. 91–206, § 2(1), Mar. 10, 1970, 84 Stat. 49; renumbered title I, § 106, Pub. L. 91–468, § 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 95–630, title V, § 508, Nov. 10, 1978, 92 Stat. 3683.)

history & why it existsrecord from the source credit
  • 1934Enacted · Act of June 26, 1934, ch. 750 · 48 Stat. 1218
  • 1937Amended · Act of Dec. 6, 1937, ch. 3 · 51 Stat. 4
  • 1948Amended · Act of June 29, 1948, ch. 711 · 62 Stat. 1091
  • 1959Amended · Pub. L. 86-354 · 73 Stat. 629
  • 1970Amended · Pub. L. 91-206 · 84 Stat. 49
  • 1970Amended · Pub. L. 91-468 · 84 Stat. 994
  • 1978Amended · Pub. L. 95-630 · 92 Stat. 3683

A history note hasn’t been published yet. The record shows enactment by ch. 750 on 1934-06-26.

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