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12 U.S.C. § 4709 — Encouragement of private entities

submitted 32 years ago by Pub. L. 103-325 to r/title-12-BANKS-AND-BANKING · 80 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers encouragement of private entities. It states the rules that apply to that subject.

The Fund can facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any that entity must be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any that entity must be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality of it, or by any State or local government or any agency or instrumentality of it.
the actual law source: uscode.house.gov ↗public domain

The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.

Source credit: (Pub. L. 103–325, title I, § 110, Sept. 23, 1994, 108 Stat. 2177.)

history & why it existsrecord from the source credit
  • 1994Enacted · Pub. L. 103-325 · 108 Stat. 2177

A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-325 on 1994-09-23.

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