31 U.S.C. § 9108 — Obligations
submitted 44 years ago by Pub. L. 97-258 to r/title-31-MONEY-AND-FINANCE · 240 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Before a Government corporation issues obligations and offers obligations to the public, the Secretary of the Treasury shall prescribe—
the form, denomination, maturity, interest rate, and conditions to which the obligations will be subject;
the way and time the obligations are issued; and
the price for which the obligations will be sold.
A Government corporation may buy or sell a direct obligation of the United States Government, or an obligation on which the principal, interest, or both, is guaranteed, of more than $100,000 only when the Secretary approves the purchase or sale. The Secretary may waive the requirement of this subsection under conditions the Secretary may decide.
The Secretary may designate an officer or employee of an agency to carry out this section if the head of the agency agrees.
This section does not apply to a mixed-ownership Government corporation when the corporation has no capital of the Government.
Subsections (a) and (b) of this section do not apply to the Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, and the Federal Land Banks. However, the head of each of those banks shall consult with the Secretary before taking action of the kind described in subsection (a) or (b). If agreement is not reached, the Secretary may make a written report to the corporation, the President, and Congress on the reasons for the Secretary’s disagreement.
Source credit: (Pub. L. 97–258, §§ 1, 2(l)(2), Sept. 13, 1982, 96 Stat. 1045, 1062; Pub. L. 97–452, § 1(27), Jan. 12, 1983, 96 Stat. 2478; Pub. L. 115–334, title VI, § 6602(b)(20), Dec. 20, 2018, 132 Stat. 4777.)
- 1982Enacted · Pub. L. 97-258 · 96 Stat. 1045, 1062
- 1983Amended · Pub. L. 97-452 · 96 Stat. 2478
- 2018Amended · Pub. L. 115-334 · 132 Stat. 4777
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-258 on 1982-09-13.
all 0 arguments · sorted by: best
no arguments yet — make the first case