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12 U.S.C. § 5236 — Exchange Stabilization Fund reimbursement

submitted 18 years ago by Pub. L. 110-343 to r/title-12-BANKS-AND-BANKING · 80 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section requires reimbursement for a specified money-market guarantee program and bars future use of the Fund for such programs.

(a) Reimbursement. The Secretary must reimburse the Exchange Stabilization Fund under section 5302 of title 31 for money used for the Treasury Money Market Funds Guaranty Program for the United States money-market mutual-fund industry. The reimbursement must come from funds under this chapter. (b) Limit. The Secretary may not use the Exchange Stabilization Fund to establish future guarantee programs for that industry.

the actual law source: uscode.house.gov ↗public domain
(a) Reimbursement

The Secretary shall reimburse the Exchange Stabilization Fund established under section 5302 of title 31 for any funds that are used for the Treasury Money Market Funds Guaranty Program for the United States money market mutual fund industry, from funds under this chapter.

(b) Limits on use of Exchange Stabilization Fund

The Secretary is prohibited from using the Exchange Stabilization Fund for the establishment of any future guaranty programs for the United States money market mutual fund industry.

Source credit: (Pub. L. 110–343, div. A, title I, § 131, Oct. 3, 2008, 122 Stat. 3797.)

history & why it existsrecord from the source credit
  • 2008Enacted · Pub. L. 110-343 · 122 Stat. 3797

A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-343 on 2008-10-03.

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