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28 U.S.C. § 1349 — Corporation organized under federal law as party
Federal law — U.S. Code and appendices · legal_authorities
The district courts shall not have jurisdiction of any civil action by or against any corporation upon the ground that it was incorporated by or under an Act of Congress, unless the United States is the owner of more than one-half of its capital stock.
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Stable record: federal_law:legal_authorities:record_usc_379f117693b1666b8b520c7d
Source file: Laws/federal/codes/united-states-code/title-28/section-1349-corporation-organized-under-federal-law-as-party--e3669b62f9.md
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Source location: Title 28, Chapter 85, § 1349; chapter-085-district-courts-jurisdiction.md
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The district courts shall not have jurisdiction of any civil action by or against any corporation upon the ground that it was incorporated by or under an Act of Congress, unless the United States is the owner of more than one-half of its capital stock.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; Board of Directors; policies; principal office; membership; term; vacancies**
(1) There is hereby created the Federal Home Loan Mortgage Corporation, which shall be a body corporate under the direction of a Board of Directors. Within the limitations of law and regulation, the Board of Directors shall determine the general policies that govern the operations of the Corporation. The principal office of the Corporation shall be in the District of Columbia or at any other place determined by the Corporation.
(2)
(A) The Board of Directors of the Corporation shall consist of 13 persons, or such other number as the Director determines appropriate, who shall be elected annually by the voting common stockholders. Except to the extent action under [section 4636a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4636a&num=0&edition=prelim) temporarily results in a lesser number, the Board of Directors shall at all times have as members at least 1 person from the homebuilding industry, at least 1 person from the mortgage lending industry, at least 1 person from the real estate industry, and at least 1 person from an organization that has represented consumer or community interests for not less than 2 years or 1 person who has demonstrated a career commitment to the provision of housing for low-income households.
(B) Each member of the Board of Directors shall be elected for a term ending on the date of the next annual meeting of the voting common stockholders.
(C) Any seat on the Board of Directors that becomes vacant after the annual election of the directors shall be filled by the Board of Directors, but only for the unexpired portion of the term.
(D) Any member of the Board of Directors who is a full-time of
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Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding [section 1349 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1349&num=0&edition=prelim) or any other provision of law:
(1) The Corporation shall be considered an agency under sections 1345 and 1442 of such title.
(2) All civil actions to which the Corporation is a party shall be deemed to arise under the laws of the United States and, to the extent applicable, shall be deemed to be governed by Federal common law. The district courts of the United States shall have original jurisdiction of all such actions, without regard to amount of value.
(3) Any civil or other action, case, or controversy in a court of a State or any court, other than a district court of the United States, to which the Corporation is a party may at any time before trial be removed by the Corporation, without the giving of any bond or security—
(A) to the District Court of the United States for the district and division embracing the place where the same is pending; or
(B) if there is no such district court, to the District Court of the United States for the district in which the principal office of the Corporation is located;
by following any procedure for removal for causes in effect at the time of such removal.
(4) No attachment or execution shall be issued against the Corporation or any of the property of the Corporation before final judgment in any Federal, State, or other court.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2279bb–2
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Federal law — U.S. Code and appendices · legal_authorities
Page 377
TITLE 28—JUDICIARY AND JUDICIAL PROCEDURE
§ 1350
tenant in common or joint tenant for the parti-
tion of lands where the United States is one of
the tenants in common or joint tenants.
(June 25, 1948, ch. 646, 62 Stat. 933.)
HISTORICAL AND REVISION NOTES
Based on title 28, U.S.C., 1940 ed., § 41(25) (Mar. 3, 1911,
ch. 231, § 24, par. 25, 36 Stat. 1094).
The venue provision in section 41(25) of title 28,
U.S.C., 1940 ed., is incorporated in section 1399 of this
title.
Words ‘‘civil action’’ were substituted for ‘‘suits in
equity,’’ in view of Rule 2 of the Federal Rules of Civil
Procedure.
A change was made in phraseology.
§ 1348. Banking association as party
The district courts shall have original juris-
diction of any civil action commenced by the
United States, or by direction of any officer
thereof, against any national banking associa-
tion, any civil action to wind up the affairs of
any such association, and any action by a bank-
ing association established in the district for
which the court is held, under chapter 2 of Title
12, to enjoin the Comptroller of the Currency, or
any receiver acting under his direction, as pro-
vided by such chapter.
All national banking associations shall, for
the purposes of all other actions by or against
them, be deemed citizens of the States in which
they are respectively located.
(June 25, 1948, ch. 646, 62 Stat. 933.)
HISTORICAL AND REVISION NOTES
Based on title 28, U.S.C., 1940 ed., § 41(16) (Mar. 3, 1911,
ch. 231, § 24, par. 16, 36 Stat. 1092).
Words ‘‘any civil action’’ were substituted for ‘‘all
cases,’’ in view of Rule 2 of the Federal Rules of Civil
Procedure.
Words ‘‘real, personal, or mixed, and all suits in eq-
uity,’’ after ‘‘all other actions by or against them,’’
were omitted
Source: Supplied 2024 U.S. Code historical extraction · 28 U.S.C. § 1349
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