15 U.S.C. § 690i — Bank participation

submitted 19 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 92 words · no verdicts yet

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Certain banks may invest in Renewable Fuel Capital Investment companies, but their investment cannot exceed 5 percent of the bank’s capital and surplus.

(a) In general. Except for subsection (b), a national bank, a Federal Reserve member bank, and—if State law allows it—an insured bank that is not a Federal Reserve member may invest in a Renewable Fuel Capital Investment company or in an entity formed only to invest in such companies. (b) Limitation. A bank described in subsection (a) may not make these investments in an amount greater than 5 percent of its capital and surplus.

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

(a) In general

Except as provided in subsection (b), any national bank, any member bank of the Federal Reserve System, and (to the extent permitted under applicable State law) any insured bank that is not a member of such system, may invest in any Renewable Fuel Capital Investment company, or in any entity established to invest solely in Renewable Fuel Capital Investment companies.

(b) Limitation

No bank described in subsection (a) may make investments described in such subsection that are greater than 5 percent of the capital and surplus of the bank.

Source credit: (Pub. L. 85–699, title III, § 390, as added Pub. L. 110–140, title XII, § 1207, Dec. 19, 2007, 121 Stat. 1782.)

history & why it existsrecord from the source credit

2007Enacted · Pub. L. 85-699 · 121 Stat. 1782

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 2007-12-19.

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