12 U.S.C. § 2145 — Exchange of ownership interests

in plain englishAI-generated · not legal advice

On the establishment of the consolidated bank, ownership interests of the stockholders and subscribers to the guaranty funds of the constituent district banks for cooperatives (including stock, participation certificates, and allocated equities) shall be ex...

On the establishment of the consolidated bank, ownership interests of the stockholders and subscribers to the guaranty funds of the constituent district banks for cooperatives (including stock, participation certificates, and allocated equities) must be exchanged for like ownership interests in the consolidated bank on a book value basis.

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

On the establishment of the consolidated bank, ownership interests of the stockholders and subscribers to the guaranty funds of the constituent district banks for cooperatives (including stock, participation certificates, and allocated equities) shall be exchanged for like ownership interests in the consolidated bank on a book value basis.

Source credit: (Pub. L. 92–181, title III, § 3.24, as added Pub. L. 100–233, title IV, § 415(2), Jan. 6, 1988, 101 Stat. 1644.)

history & why it existsrecord from the source credit

1988Enacted · Pub. L. 92-181 · 101 Stat. 1644

A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-181 on 1988-01-06.