12 U.S.C. § 1772c–1 — Community development revolving loan fund for credit unions
submitted 92 years ago by Pub. L. 103-325 to r/title-12-BANKS-AND-BANKING · 140 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The Board* may exercise the authority granted to it by the Community Development Credit* Union Revolving Loan Fund Transfer Act, including any additional appropriation made or earnings accrued, subject only to this section and to regulations prescribed by the Board.
The Board may invest any idle Fund moneys in United States Treasury securities. Any interest accrued on such securities shall become a part of the Fund.
The Board may require that any loans made from the Fund be matched by increased shares in the borrower credit union.
Interest earned by the Fund may be allocated by the Board for technical assistance to community development credit unions, subject to an appropriations Act.
As used in this section, the term “Fund” means the Community Development Credit Union Revolving Loan Fund.
Source credit: (June 26, 1934, ch. 750, title I, § 130, as added Pub. L. 103–325, title I, § 120(b), Sept. 23, 1994, 108 Stat. 2188.)
- 1934Enacted · Pub. L. 103-325 · 108 Stat. 2188
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-325 on 1934-06-26.
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