Browse Arkansas Code titles and sections
12 U.S.C. § 1812 — Management
Federal law — U.S. Code and appendices · legal_authorities
**(a) Board of Directors**
(1) **In general** — The management of the Corporation shall be vested in a Board of Directors consisting of 5 members—
(A) 1 of whom shall be the Comptroller of the Currency;
(B) 1 of whom shall be the Director of the Consumer Financial Protection Bureau; and
(C) 3 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, 1 of whom shall have State bank supervisory experience.
(2) **Political affiliation** — After February 28, 1993, not more than 3 of the members of the Board of Directors may be members of the same political party.
**(b) Chairperson and Vice Chairperson**
(1) **Chairperson** — 1 of the appointed members shall be designated by the President, by and with the advice and consent of the Senate, to serve as Chairperson of the Board of Directors for a term of 5 years.
(2) **Vice Chairperson** — 1 of the appointed members shall be designated by the President, by and with the advice and consent of the Senate, to serve as Vice Chairperson of the Board of Directors.
(3) **Acting Chairperson** — In the event of a vacancy in the position of Chairperson of the Board of Directors or during the absence or disability of the Chairperson, the Vice Chairperson shall act as Chairperson.
**(c) Terms**
(1) **Appointed members** — Each appointed member shall be appointed for a term of 6 years.
(2) **Interim appointments** — Any member appointed to fill a vacancy occurring before the expiration of the term for which such member’s predecessor was appointed shall be appointed only for the remainder of such term.
(3) **Continuation of service** — The Chairperson, Vice Chairperson, and each appointed member may continue to serve after the
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1812
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 542a54b9bed29d53b783bc909e354d1bf636d3cf80835d392267948ac2bd81b0. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_789a0c23c2d9cc71dd38490e
Source file: Laws/federal/codes/united-states-code/title-12/section-1812-management--2d2b4b262b.md
Pages: Not recorded – Not recorded
Passage SHA-256: 91897d5d63a2f5f5908646da823940107bddfea0a10e8a610f1a8cf2fa07a979
Source location: Title 12, Chapter 16, § 1812; chapter-016-federal-deposit-insurance-corporation.md
Stored source content
**(a) Board of Directors**
(1) **In general** — The management of the Corporation shall be vested in a Board of Directors consisting of 5 members—
(A) 1 of whom shall be the Comptroller of the Currency;
(B) 1 of whom shall be the Director of the Consumer Financial Protection Bureau; and
(C) 3 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, 1 of whom shall have State bank supervisory experience.
(2) **Political affiliation** — After February 28, 1993, not more than 3 of the members of the Board of Directors may be members of the same political party.
**(b) Chairperson and Vice Chairperson**
(1) **Chairperson** — 1 of the appointed members shall be designated by the President, by and with the advice and consent of the Senate, to serve as Chairperson of the Board of Directors for a term of 5 years.
(2) **Vice Chairperson** — 1 of the appointed members shall be designated by the President, by and with the advice and consent of the Senate, to serve as Vice Chairperson of the Board of Directors.
(3) **Acting Chairperson** — In the event of a vacancy in the position of Chairperson of the Board of Directors or during the absence or disability of the Chairperson, the Vice Chairperson shall act as Chairperson.
**(c) Terms**
(1) **Appointed members** — Each appointed member shall be appointed for a term of 6 years.
(2) **Interim appointments** — Any member appointed to fill a vacancy occurring before the expiration of the term for which such member’s predecessor was appointed shall be appointed only for the remainder of such term.
(3) **Continuation of service** — The Chairperson, Vice Chairperson, and each appointed member may continue to serve after the expiration of the term of office to which such member was appointed until a successor has been appointed and qualified.
**(d) Vacancy**
(1) **In general** — Any vacancy on the Board of Directors shall be filled in the manner in which the original appointment was made.
(2) **Acting officials may serve** — In the event of a vacancy in the office of the Comptroller of the Currency or the office of Director of the Consumer Financial Protection Bureau and pending the appointment of a successor, or during the absence or disability of the Comptroller of the Currency or the Director of the Consumer Financial Protection Bureau, the acting Comptroller of the Currency or the acting Director of the Consumer Financial Protection Bureau, as the case may be, shall be a member of the Board of Directors in the place of the Comptroller or Director.
**(e) Ineligibility for other offices**
(1) **Postservice restriction**
(A) *In general* — No member of the Board of Directors may hold any office, position, or employment in any insured depository institution or any depository institution holding company during—
(i) the time such member is in office; and
(ii) the 2-year period beginning on the date such member ceases to serve on the Board of Directors.
(B) *Exception for members who serve full term* — The limitation contained in subparagraph (A)(ii) shall not apply to any member who has ceased to serve on the Board of Directors after serving the full term for which such member was appointed.
(2) **Restriction during service** — No member of the Board of Directors may—
(A) be an officer or director of any insured depository institution, depository institution holding company, Federal Reserve bank, or Federal home loan bank; or
(B) hold stock in any insured depository institution or depository institution holding company.
(3) **Certification** — Upon taking office, each member of the Board of Directors shall certify under oath that such member has complied with this subsection and such certification shall be filed with the secretary of the Board of Directors.
**(f) Status of employees**
(1) **In general** — A director, member, officer, or employee of the Corporation has no liability under the Securities Act of 1933 [[15 U.S.C. 77a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section77a&num=0&edition=prelim) et seq.] with respect to any claim arising out of or resulting from any act or omission by such person within the scope of such person’s employment in connection with any transaction involving the disposition of assets (or any interests in any assets or any obligations backed by any assets) by the Corporation. This subsection shall not be construed to limit personal liability for criminal acts or omissions, willful or malicious misconduct, acts or omissions for private gain, or any other acts or omissions outside the scope of such person’s employment.
(2) **“Employee of the Corporation” defined** — For purposes of this subsection, the term “employee of the Corporation” includes any employee of the Office of the Comptroller of the Currency or of the Consumer Financial Protection Bureau who serves as a deputy or assistant to a member of the Board of Directors of the Corporation in connection with activities of the Corporation.
(3) **Effect on other law** — This subsection does not affect—
(A) any other immunities and protections that may be available to such person under applicable law with respect to such transactions, or
(B) any other right or remedy against the Corporation, against the United States under applicable law, or against any person other than a person described in paragraph (1) participating in such transactions.
This subsection shall not be construed to limit or alter in any way the immunities that are available under applicable law for Federal officials and employees not described in this subsection.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, act Dec. 23, 1913, ch. 6, § 12B, as added June 16, 1933, ch. 89, § 8, 48 Stat. 168; amended June 16, 1934, ch. 546, § 1 (1)–(10), 48 Stat. 969, 970; June 28, 1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, title I, § 101, 49 Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25, 1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489, 52 Stat. 767; June 20, 1939, ch. 214, § 2, 53 Stat. 842; Apr. 13, 1943, ch. 62, § 1, 57 Stat. 65; Aug. 5, 1947, ch. 492, §§ 2, 4, 61 Stat. 773; June 25, 1948, ch. 645, § 21, 62 Stat. 862; Oct. 15, 1949, ch. 695, § 4, 63 Stat. 880; Aug. 17, 1950, ch. 729, §§ 5–7, 64 Stat. 457, relating to the Federal Deposit Insurance Corporation, was withdrawn from the Federal Reserve Act and made a separate act to be known as the Federal Deposit Insurance Act, by section 1 of act Sept. 21, 1950, ch. 967, 64 Stat. 873. The Federal Deposit Insurance Act is classified to chapter 16 (§ 1811 et seq.) of this title.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 264
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
This subchapter may be cited as the “Securities Act of 1933”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 77a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Each bank for cooperatives shall be a body corporate and, subject to regulation by the Farm Credit Administration, shall have power to—
(1) Adopt and use a corporate seal.
(2) Have succession until dissolved under the provisions of this chapter or other Act of Congress.
(3) Make contracts.
(4) Sue and be sued.
(5) Acquire, hold, dispose, and otherwise exercise all of the usual incidents of ownership of real and personal property necessary or convenient to its business.
(6) Make loans and commitments for credit, provide services and other assistance as authorized in this chapter, and charge fees therefor.
(7) Operate under the direction of its board of directors.
(8) Elect by its board of directors a president, any vice presidents, a secretary, a treasurer, and provide for such other officers, employees, and agents as may be necessary, including joint employees as provided in this chapter, define their duties and require surety bonds or make other provisions against losses occasioned by employees.
(9) Prescribe by its board of directors its bylaws not inconsistent with law providing for the classes of its stock and the manner in which its stock shall be issued, transferred, and retired; its officers, employees, or agents elected or provided for; its property acquired, held, and transferred; its loans made; its general business conducted; and the privileges granted it by law exercised and enjoyed.
(10) Borrow money and issue notes, bonds, debentures, or other obligations individually or in concert with one or more other banks of the System, of such character, and such terms, conditions, and rates of interest as may be determined.
(11)
(A) Participate in loans under this subchapter with one or more other banks for cooperatives and with commercial banks and ot
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2124
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 964
TITLE 12—BANKS AND BANKING
§ 1812
‘‘(4) LOW-INCOME CREDIT UNION.—The term ‘low-in-
come credit union’ means any depository institution
described in section 19(b)(1)(A)(iv) of the Federal Re-
serve Act which serves predominately low-income
members (as defined by the National Credit Union
Administration Board pursuant to section 101(5) of
the Federal Credit Union Act [12 U.S.C. 1752(5)]).
‘‘(5) WOMEN’S
BANK.—The term ‘women’s bank’
means any depository institution described in clause
(i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Re-
serve Act—
‘‘(A) more than 50 percent of the outstanding
shares of which are held by 1 or more women;
‘‘(B) a majority of the directors on the board of
directors of which are women; and
‘‘(C) a significant percentage of senior manage-
ment positions of which are held by women.’’
SMALL
INVESTOR
PARTICIPATION
IN
UNITED
STATES
GOVERNMENT SECURITIES OFFERINGS; STUDY BY SEC-
RETARY OF THE TREASURY
Pub. L. 101–73, title XII, § 1207, Aug. 9, 1989, 103 Stat.
523, provided that: ‘‘Not later than the close of the 18-
month period beginning on the date of the enactment
of this Act [Aug. 9, 1989], the Secretary of the Treasury
shall conduct a study and report to the Congress on—
‘‘(1) whether, and to what extent, the issuance of se-
curities by the United States Government in small
denominations benefits small investors, increases the
participation of small investors in United States Gov-
ernment securities offerings, and promotes savings
and thrift by the average United States taxpayer; and
‘‘(2) additional measures the Secretary recommends
be taken to expand the availability of securities
issued by the United States Government to benefit
small investors, increase their participation in
United States Governmen
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1812
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 119
TITLE 15—COMMERCE AND TRADE
§ 77b
7025, set out as a note under section 301 of Title 3, The
President.
CHAPTER 2A—SECURITIES AND TRUST
INDENTURES
SUBCHAPTER I—DOMESTIC SECURITIES
Sec.
77a.
Short title.
77b.
Definitions; promotion of efficiency, competi-
tion, and capital formation.
77b–1.
Swap agreements.
77c.
Classes of securities under this subchapter.
77d.
Exempted transactions.
77d–1.
Requirements with respect to certain small
transactions.
77e.
Prohibitions relating to interstate commerce
and the mails.
77f.
Registration of securities.
77g.
Information required in registration state-
ment.
77h.
Taking effect of registration statements and
amendments thereto.
77h–1.
Cease-and-desist proceedings.
77i.
Court review of orders.
77j.
Information required in prospectus.
77k.
Civil liabilities on account of false registra-
tion statement.
77l.
Civil liabilities arising in connection with
prospectuses and communications.
77m.
Limitation of actions.
77n.
Contrary stipulations void.
77o.
Liability of controlling persons.
77p.
Additional remedies; limitation on remedies.
77q.
Fraudulent interstate transactions.
77r.
Exemption from State regulation of securi-
ties offerings.
77r–1.
Preemption of State law.
77s.
Special powers of Commission.
77t.
Injunctions and prosecution of offenses.
77u.
Hearings by Commission.
77v.
Jurisdiction of offenses and suits.
77w.
Unlawful representations.
77x.
Penalties.
77y.
Jurisdiction of other Government agencies
over securities.
77z.
Separability.
77z–1.
Private securities litigation.
77z–2.
Application of safe harbor for forward-look-
ing statements.
77z–2a.
Conflicts of interest relating to certain
securitizations.
77z–3.
General exemptive authority.
77z
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 77a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 77a. This identifies an authority to review, not proof of applicability.