12 U.S.C. § 635l — Authorization for appropriation of funds for losses

submitted 58 years ago by Pub. L. 90-390 to r/title-12-BANKS-AND-BANKING · 45 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section authorizes $100 million for the Secretary of the Treasury to cover losses assigned to the Secretary under section 635k. The authorization has no fiscal-year deadline.

Congress authorizes appropriations to the Secretary of the Treasury, without limitation to a fiscal year, of $100,000,000. The money is to cover losses that section 635k assigns to the Secretary of the Treasury.

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

There are hereby authorized to be appropriated to the Secretary of the Treasury without fiscal year limitation $100,000,000 to cover the amount of any losses which are to be borne by the Secretary of the Treasury as provided in section 635k of this title.

Source credit: (Pub. L. 90–390, § 3, July 7, 1968, 82 Stat. 297.)

history & why it existsrecord from the source credit

1968Enacted · Pub. L. 90-390 · 82 Stat. 297

A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-390 on 1968-07-07.

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