15 U.S.C. § 687k — Guaranteed obligations not eligible for purchase by Federal Financing Bank

submitted 40 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 88 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Guaranteed obligations not eligible for purchase by Federal Financing Bank. It states the conditions, exceptions, and procedures in the provisions below.

Nothing in any provision of law must be construed to authorize the Federal Financing Bank to acquire after September 30, 1985 — (1) any obligation the payment of principal or interest on which has at any time been guaranteed in whole or in part under this subchapter, (2) any obligation which is an interest in any obligation described in paragraph (1), or (3) any obligation which is secured by, or substantially all of the value of which is attributable to, any obligation described in paragraph (1) or (2).

the actual law source: uscode.house.gov ↗public domain

Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire after September 30, 1985—

(1)

any obligation the payment of principal or interest on which has at any time been guaranteed in whole or in part under this subchapter,

(2)

any obligation which is an interest in any obligation described in paragraph (1), or

(3)

any obligation which is secured by, or substantially all of the value of which is attributable to, any obligation described in paragraph (1) or (2).

Source credit: (Pub. L. 85–699, title III, § 318, formerly § 320, as added Pub. L. 99–272, title XVIII, § 18004(a), Apr. 7, 1986, 100 Stat. 364; renumbered § 318, Pub. L. 104–208, div. D, title II, § 208(h)(1)(E), Sept. 30, 1996, 110 Stat. 3009–747.)

history & why it existsrecord from the source credit

1986Enacted · Pub. L. 85-699 · 100 Stat. 364
1996Amended · Pub. L. 104-208 · 110 Stat. 3009

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 1986-04-07.

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