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12 U.S.C. § 2283 — Creation of Federal Financing Bank

submitted 53 years ago by Pub. L. 93-224 to r/title-12-BANKS-AND-BANKING · 71 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Creation of Federal Financing Bank. It states the duties, permissions, limits, reports, or definitions described in the text.

There is by this section created a body corporate to be known as the Federal Financing Bank, which must have succession until dissolved by an Act of Congress. The Bank must be subject to the general supervision and direction of the Secretary of the Treasury. The Bank must be an instrumentality of the United States Government and must maintain such offices as may be necessary or appropriate in the conduct of its business.
the actual law source: uscode.house.gov ↗public domain

There is hereby created a body corporate to be known as the Federal Financing Bank, which shall have succession until dissolved by an Act of Congress. The Bank shall be subject to the general supervision and direction of the Secretary of the Treasury. The Bank shall be an instrumentality of the United States Government and shall maintain such offices as may be necessary or appropriate in the conduct of its business.

Source credit: (Pub. L. 93–224, § 4, Dec. 29, 1973, 87 Stat. 937.)

history & why it existsrecord from the source credit
  • 1973Enacted · Pub. L. 93-224 · 87 Stat. 937

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-224 on 1973-12-29.

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