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15 U.S.C. § 77ii — Subscriptions accepted by Corporation as loans; repayment

submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 46 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Corporation may accept money from people, public-purpose foundations, or U.S. government agencies. The board of directors can treat this money as a loan. The board decides when and how that loan gets repaid.

The Corporation may take subscriptions — money contributed — from any person, foundation with a public purpose, or agency of the U.S. government. The board of directors can, at its own discretion, treat these subscriptions as loans. The board also decides when the loan must be repaid and how.
the actual law source: uscode.house.gov ↗public domain

The Corporation may receive subscriptions from any person, foundation with a public purpose, or agency of the United States Government, and such subscriptions may, in the discretion of the board of directors, be treated as loans repayable when and as the board of directors shall determine.

Source credit: (May 27, 1933, ch. 38, title II, § 208, 48 Stat. 95.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of May 27, 1933, ch. 38 · 48 Stat. 95

A history note hasn’t been published yet. The record shows enactment by ch. 38 on 1933-05-27.

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