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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Federal Home Loan Bank Act.”
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Source location: Title 12, Chapter 11, § 1421; chapter-011-federal-home-loan-banks.md
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes Section, act July 22, 1932, ch. 522, § 27, as added Pub. L. 103–204, § 18, Dec. 17, 1993, 107 Stat. 2401, related to Housing Opportunity Hotline program. A prior section 1447, act July 22, 1932, ch. 522, § 27, 47 Stat. 740, related to institutions authorized to subscribe for stock of banks, prior to repeal by Pub. L. 101–73, title VII, § 704(c), Aug. 9, 1989, 103 Stat. 416.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1447
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Acreage limitation; proximity of selections and size of sections and units; waiver** (1) During a period of three years from December 18, 1971, the Village Corporation for each Native village identified pursuant to [section 1610 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1610&num=0&edition=prelim) shall select, in accordance with rules established by the Secretary, all of the township or townships in which any part of the village is located, plus an area that will make the total selection equal to the acreage to which the village is entitled under [section 1613 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1613&num=0&edition=prelim). The selection shall be made from lands withdrawn by [section 1610(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1610/a&num=0&edition=prelim): Provided, That no Village Corporation may select more than 69,120 acres from lands withdrawn by [section 1610(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1610/a/2&num=0&edition=prelim), and not more than 69,120 acres from the National Wildlife Refuge System, and not more than 69,120 acres in a National Forest: Provided further, That when a Village Corporation selects the surface estate to lands within the National Wildlife Refuge System or Naval Petroleum Reserve Numbered 4, the Regional Corporation, for that region may select the subsurface estate in an equal acreage from other lands withdrawn in [section 1610(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1610/a&num=0&edition=prelim) within the region, if possible. (2) Selections made under this subsectio
Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 1611
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women’s depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution’s community for purposes of this chapter. **(b) Definitions** For purposes of this section— (1) **Minority depository institution** — The term “minority institution” 11 So in original. Probably should be “minority depository institution”. means a depository institution (as defined in [section 1813(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/c&num=0&edition=prelim))— (A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and (B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals. (2) **Women’s depository institution** — The term “women’s depository institution” means a depository institution (as defined in [section 1813(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/c&num=0&edition=prelim))— (A) more than 50 percent of the ownership or control of which is held by 1 or more women; (B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and (C) a significant percentage of senior management positions of which are held by women. (3) **Minority**
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2907
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of the Resolution Funding Corporation is to provide funds to the Resolution Trust Corporation to enable the Resolution Trust Corporation to carry out the provisions of this chapter. **(b) Establishment** There is established a corporation to be known as the Resolution Funding Corporation. **(c) Management of Funding Corporation** (1) **Directorate** — The Funding Corporation shall be under the management of a Directorate composed of 3 members as follows: (A) The director of the Office of Finance of the Federal Home Loan Banks (or the head of any successor office). (B) 2 members selected by the Thrift Depositor Protection Oversight Board from among the presidents of the Federal Home Loan Banks. (2) **Terms** — Of the 2 members appointed under paragraph (1)(B), 1 shall be appointed for an initial term of 2 years and 1 shall be appointed for an initial term of 3 years. Thereafter, such members shall be appointed for a term of 3 years. (3) **Vacancy** — If any member leaves the office in which such member was serving when appointed to the Directorate— (A) such member’s service on the Directorate shall terminate on the date such member leaves such office; and (B) the successor to the office of such member shall serve the remainder of such member’s term. (4) **Equal representation of banks** — No president of a Federal Home Loan Bank may be appointed to serve an additional term on the Directorate until such time as the presidents of each of the other Federal Home Loan Banks have served as many terms as the president of such bank. (5) **Chairperson** — The Thrift Depositor Protection Oversight Board shall select the chairperson of the Directorate from among the 3 members of the Directorate. (6) **Staff** (A) *No paid employees
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1441b
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes Section, act July 22, 1932, ch. 522, § 21A, as added Pub. L. 101–73, title V, § 501(a), Aug. 9, 1989, 103 Stat. 363; amended Pub. L. 101–625, title VIII, § 804(d), title IX, § 914(c), Nov. 28, 1990, 104 Stat. 4323, 4395; Pub. L. 101–647, title XXV, §§ 2526(c), 2540, Nov. 29, 1990, 104 Stat. 4876, 4885; Pub. L. 102–18, title I, §§ 101, 102(a), 103(a), 104, 105, title II, §§ 201, 202, title III, § 301, title IV, § 401, Mar. 23, 1991, 105 Stat. 58, 60–63, 65; Pub. L. 102–139, title V, § 523(a), Oct. 28, 1991, 105 Stat. 781; Pub. L. 102–233, title I, §§ 101, 103, 105, 106(a)–(e)(1), title II, § 201, title III, §§ 302(b), (c), 303–312, 314, 316, title IV, §§ 401, 402(a), 403–405, title V, § 501, title VI, §§ 601–611, 613–617, Dec. 12, 1991, 105 Stat. 1761–1765, 1767–1770, 1772–1774, 1776–1789; Pub. L. 102–242, title I, § 141(a)(3), title II, § 251(c)(1), title IV, § 471, Dec. 19, 1991, 105 Stat. 2276, 2333, 2385; Pub. L. 102–378, § 5(e), Oct. 2, 1992, 106 Stat. 1358; Pub. L. 102–550, title V, §§ 503(c)(3), 509(i), title XVI, §§ 1611(a), (d)(1)–(3), 1612, 1613(a)(1)–(6), (8), (b)–(h), 1614(a)(1)–(5), (7), (b), 1615(a)(2), 1616, Oct. 28, 1992, 106 Stat. 3780, 3783, 4090–4096; Pub. L. 103–204, §§ 2–3(b), 4(a), 5(a), (b)(2), 7, 12, 14(a)(1), (c)(2), (d)(1), (e)(1), (f)(1), 15(a), 16(a), 17(a), 21(b), 24, 27(a), 29–31, 36, Dec. 17, 1993, 107 Stat. 2370–2380, 2382, 2383, 2390, 2391, 2395–2400, 2406, 2408, 2410–2413, 2415; Pub. L. 103–211, title IV, § 406, Feb. 12, 1994, 108 Stat. 41; Pub. L. 103–325, title VI, § 602(b), Sept. 23, 1994, 108 Stat. 2291; Pub. L. 103–328, title II, § 201(b), Sept. 29, 1994, 108 Stat. 2368; Pub. L. 104–66, title II, § 2231, Dec. 21, 1995, 109 Stat. 733; Pub. L. 104–208, div. A, title II, § 2704(d)(11)(B)–(D), Sept. 30, 1996, 110 St
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1441a
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Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any other provision of law, the Secretary of the Interior is authorized and shall seek to acquire the private lands described in [section 396d(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section396d/a&num=0&edition=prelim), by crediting a surplus property account, to be established in the name of each landowner, in the amount of the acquisition price for such landowner’s lands. The National Park Service shall update the existing appraisals for the parcels and, based on the approved appraised values, shall negotiate with the landowners for acquisition prices. Each owner may, using such credits in his surplus property account, bid, as any other bidder for surplus property, wherever located, in accordance with chapters 1 to 11 of title 40 and division C (except sections 3302, 3307(e), 3501(b), 3509, 3906, 4710, and 4711) of subtitle I of title 41. The Administrator of the General Services Administration shall establish each landowner’s surplus property account and shall adjust the credits in such accounts to reflect successful bids under this section. Title to the lands described in this section shall pass to the Government at the time of establishment of the surplus property accounts. The credits in any of the surplus property accounts may be transferred or sold in whole or in part at any time by the landowner to any other party, thereby vesting such party with all the rights of the landowner, and after such transfer, the landowner shall notify the Administrator of the transfer. At any time the Secretary may purchase the balance of any surplus property account subject to the availability of appropriated funds. The land owner 11 So in original. Probably should be “landowner”. may also use the credits in exchange fo
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 396f
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes Section, acts July 22, 1932, ch. 522, § 17, 47 Stat. 736; 1947 Reorg. Plan No. 3, eff. July 27, 1947, 12 F.R. 4981, 61 Stat. 954; Aug. 11, 1955, ch. 783, title I, § 109(a)(3), 69 Stat. 640; June 29, 1977, Pub. L. 95–56, 91 Stat. 252; Aug. 4, 1977, Pub. L. 95–90, §§ 1, 2, 91 Stat. 564; Oct. 15, 1982, Pub. L. 97–320, title I, § 127, 96 Stat. 1486; Jan. 12, 1983, Pub. L. 97–457, § 8, 96 Stat. 2507; Nov. 30, 1983, Pub. L. 98–181, title I [title VII, § 702(b)], 97 Stat. 1267, set forth powers and duties, etc., of Federal Home Loan Bank Board. #### Transfer of Functions, Personnel, and Property of Federal Savings and Loan Insurance Corporation and Federal Home Loan Bank Board Pub. L. 101–73, title IV, §§ 401–406, Aug. 9, 1989, 103 Stat. 354–363, as amended by Pub. L. 102–233, title III, § 313, Dec. 12, 1991, 105 Stat. 1770; Pub. L. 111–203, title III, § 367(5), July 21, 2010, 124 Stat. 1556, provided that: “SEC. 401. FSLIC AND FEDERAL HOME LOAN BANK BOARD ABOLISHED.“(a) In general.—“(1) FSLIC.—Effective on the date of the enactment of this Act [Aug. 9, 1989], the Federal Savings and Loan Insurance Corporation established under section 402 of the National Housing Act [former [12 U.S.C. 1725](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1725&num=0&edition=prelim)] is abolished. “(2) FHLBB.—Effective at the end of the 60-day period beginning on the date of the enactment of this Act, the Federal Home Loan Bank Board and the position of Chairman of the Federal Home Loan Bank Board are abolished. “(b) Disposition of Affairs.—“(1) In general.—During the 60-day period beginning on the date of the enactment of this Act [Aug. 9, 1989], the Chairman of the Federal Home Loan Bank Board—“(A) shall, solely for the purpose of winding up t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1437
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** Notwithstanding any other provision of law, the Director shall charter a corporation to be known as the Financing Corporation. **(b) Management of Financing Corporation** (1) **Directorate** — The Financing Corporation shall be under the management of a directorate composed of 3 members as follows: (A) The Director of the Office of Finance of the Federal Home Loan Banks (or the head of any successor to such office). (B) 2 members selected by the Director from among the presidents of the Federal Home Loan Banks. (2) **Terms** — Each member appointed under paragraph (1)(B) shall be appointed for a term of 1 year. (3) **Vacancy** — If any member leaves the office in which such member was serving when appointed to the Directorate— (A) such member’s service on the Directorate shall terminate on the date such member leaves such office; and (B) the successor to the office of such member shall serve the remainder of such member’s term. (4) **Equal representation of banks** — No president of a Federal Home Loan Bank may be appointed to serve an additional term on the Directorate until such time as the presidents of each of the other Federal Home Loan Banks have served as many terms on the Directorate as the president of such bank (before the appointment of such president to such additional term). (5) **Chairperson** — The Director shall select the chairperson of the Directorate from among the 3 members of the Directorate. (6) **Staff** (A) *No paid employees* — The Financing Corporation shall have no paid employees. (B) *Powers* — The Directorate may, with the approval of the Director, authorize the officers, employees, or agents of the Federal Home Loan Banks to act for and on behalf of the Financing Corporation in such manner as m
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1441
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In order to provide thrift institutions for the deposit of funds and for the extension of credit for homes and other goods and services, the Comptroller of the Currency is authorized, under such regulations as the Comptroller of the Currency may prescribe— (1) to provide for the organization, incorporation, examination, operation, and regulation of associations to be known as Federal savings associations (including Federal savings banks), and (2) to issue charters therefor, giving primary consideration of the best practices of thrift institutions in the United States. The lending and investment powers conferred by this section are intended to encourage such institutions to provide credit for housing safely and soundly. **(b) Deposits and related powers** (1) **Deposit accounts** (A) Subject to the terms of its charter and regulations of the Comptroller of the Currency, a Federal savings association may— (i) raise funds through such deposit, share, or other accounts, including demand deposit accounts (hereafter in this section referred to as “accounts”); and (ii) issue passbooks, certificates, or other evidence of accounts. (B) A Federal savings association may not permit any overdraft (including an intraday overdraft) on behalf of an affiliate, or incur any such overdraft in such savings association’s account at a Federal reserve bank or Federal home loan bank on behalf of an affiliate.All savings accounts and demand accounts shall have the same priority upon liquidation. Holders of accounts and obligors of a Federal savings association shall, to such extent as may be provided by its charter or by regulations of the Comptroller of the Currency, be members of the savings association, and shall have such voting rights and such other
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1464
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Deposit insurance** (1) **Insured amounts payable** (A) *In general* — The Corporation shall insure the deposits of all insured depository institutions as provided in this chapter. (B) *Net amount of insured deposit* — The net amount due to any depositor at an insured depository institution shall not exceed the standard maximum deposit insurance amount as determined in accordance with subparagraphs (C), (D), (E) and (F) and paragraph (3). (C) *Aggregation of deposits* — For the purpose of determining the net amount due to any depositor under subparagraph (B), the Corporation shall aggregate the amounts of all deposits in the insured depository institution which are maintained by a depositor in the same capacity and the same right for the benefit of the depositor either in the name of the depositor or in the name of any other person, other than any amount in a trust fund described in paragraph (1) or (2) of [section 1817(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i&num=0&edition=prelim) or any funds described in [section 1817(i)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i/3&num=0&edition=prelim). (D) *Coverage for certain employee benefit plan deposits* (i) *Pass-through insurance* — The Corporation shall provide pass-through deposit insurance for the deposits of any employee benefit plan. (ii) *Prohibition on acceptance of benefit plan deposits* — An insured depository institution that is not well capitalized or adequately capitalized may not accept employee benefit plan deposits. (iii) *Definitions* — For purposes of this subparagraph, the following definitions shall apply: (I) *Capital standards* — The terms “well ca
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1821
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