15 U.S.C. § 714e — Capital stock; amount; interest

submitted 78 years ago by ch. 704 to r/title-15-COMMERCE-AND-TRADE · 122 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Capital stock; amount; interest. It states the duties, powers, limits, or definitions described in the section.

The Corporation must have a capital stock of $100,000,000 which must be subscribed by the United States. Such subscription must be is treated as fully paid by the transfer of assets to the Corporation pursuant to section 714n of this title . The Corporation must pay interest to the United States Treasury on the amount of its capital stock, and on the amount of the obligations of the Corporation purchased by the Secretary of the Treasury pursuant to the Act of March 8, 1938 (U.S.C., title 15, sec. 713a–4), as amended, at such rates as may be determined by the Secretary of the Treasury to be appropriate in view of the terms for which such amounts are made available to the Corporation.

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

The Corporation shall have a capital stock of $100,000,000 which shall be subscribed by the United States. Such subscription shall be deemed to be fully paid by the transfer of assets to the Corporation pursuant to section 714n of this title. The Corporation shall pay interest to the United States Treasury on the amount of its capital stock, and on the amount of the obligations of the Corporation purchased by the Secretary of the Treasury pursuant to the Act of March 8, 1938 (U.S.C., title 15, sec. 713a–4), as amended, at such rates as may be determined by the Secretary of the Treasury to be appropriate in view of the terms for which such amounts are made available to the Corporation.

Source credit: (June 29, 1948, ch. 704, § 7, 62 Stat. 1072.)

history & why it existsrecord from the source credit

1948Enacted · Act of June 29, 1948, ch. 704 · 62 Stat. 1072

A history note hasn’t been published yet. The record shows enactment by ch. 704 on 1948-06-29.

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