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12 U.S.C. § 1453 — Capitalization of Federal Home Loan Mortgage Corporation

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1453 — Capitalization of Federal Home Loan Mortgage Corporation

**(a) Common stock; issuance** The common stock of the Corporation shall consist of voting common stock, which shall be issued to such holders in the manner and amount, and subject to any limitations on concentration of ownership, as may be established by the Corporation. **(b) Par value** The voting common stock shall have such par value and other characteristics as the Corporation provides. The voting common stock shall be vested with all voting rights, each share being entitled to 1 vote. The free transferability of the voting common stock at all times to any person, firm, corporation or other entity shall not be restricted except that, as to the Corporation, it shall be transferable only on the books of the Corporation.

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Source file: Laws/federal/codes/united-states-code/title-12/section-1453-capitalization-of-federal-home-loan-mortgage-corporation--a82883b4b1.md
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Source location: Title 12, Chapter 11A, § 1453; chapter-11a-federal-home-loan-mortgage-corporation.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1455 — Obligations and securities of the Corporation

**(a) Authority to issue; terms and conditions; validity** The Corporation is authorized, upon such terms and conditions as it may prescribe, to borrow, to give security, to pay interest or other return, and to issue notes, debentures, bonds, or other obligations, or other securities, including without limitation mortgage-backed securities guaranteed by the Government National Mortgage Association in the manner provided in [section 1721(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1721/g&num=0&edition=prelim). Any obligation or security of the Corporation shall be valid and binding notwithstanding that a person or persons purporting to have executed or attested the same may have died, become under disability, or ceased to hold office or employment before the issuance thereof. **(b) Prohibitions and restrictions; creation of liens and charges; rank and priority; causes of action to enforce; jurisdiction; service of process** The Corporation may, by regulation or by writing executed by the Corporation, establish prohibitions or restrictions upon the creation of indebtedness or obligations of the Corporation or of liens or charges upon property of the Corporation, including after-acquired property, and create liens and charges, which may be floating liens or charges, upon all or any part or parts of the property of the Corporation, including after-acquired property. Such prohibitions, restrictions, liens, and charges shall have such effect, including without limitation on the generality of the foregoing such rank and priority, as may be provided by regulations of the Corporation or by writings executed by the Corporation, and shall create causes of action which may be enforced by action in the United States District Court f

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1453 — Capitalization of Federal Home Loan

Page 342 TITLE 12—BANKS AND BANKING § 1453 mittee on Banking and Financial Services of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Con- gress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Rep- resentatives, and jurisdiction over matters relating to securities and exchanges and insurance generally trans- ferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001. EFFECTIVE DATE OF 1992 AMENDMENT Pub. L. 102–550, title XIII, § 1382(c)(2), Oct. 28, 1992, 106 Stat. 4002, provided that: ‘‘The amendments made by paragraph (1) [amending this section] shall apply to the first annual appointment by the President of members to the Board of Directors of the Federal Home Loan Mortgage Corporation that occurs after the date of the enactment of this Act [Oct. 28, 1992].’’ EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–369, effective Jan. 1, 1985, see section 177(d) of Pub. L. 98–369, set out as a note under section 172 of Title 26, Internal Revenue Code. TRANSITIONAL PROVISIONS Pub. L. 110–289, div. A, title I, § 1162(b)(2), July 30, 2008, 122 Stat. 2782, provided that: ‘‘The amendments made by paragraph (1) [amending this section] shall not apply to any appointed position of the board of direc- tors of the Federal Home Loan Mortgage Corporation until the expiration of the annual term for such posi- tion during which the effective date under section 1163 [set out as an Effective Date of 2008 Amendment note under section 3132 of Title 5, Government Organization and Employees] occurs.’’ Pub. L. 101–73,

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