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12 U.S.C. § 1769 — Fiscal agents and depositories; authorization to secure deposits by governmental bodies
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Each Federal credit union organized under this chapter, when requested by the Secretary of the Treasury, shall act as fiscal agent of the United States and shall perform such services as the Secretary of the Treasury may require in connection with the collection of taxes and other obligations due the United States and the lending, borrowing, and repayment of money by the United States, including the issue, sale, redemption, or repurchase of bonds, notes, Treasury certificates of indebtedness, or other obligations of the United States; and to facilitate such purposes the Board shall furnish to the Secretary of the Treasury from time to time the names and addresses of all Federal credit unions with such other available information concerning them as may be requested by the Secretary of the Treasury. Any Federal credit union organized under this chapter, when designated for that purpose by the Secretary of the Treasury, shall be a depository of public money, except receipts from customs, under such regulations as may be prescribed by the Secretary of the Treasury.
**(b)** Any Federal credit union, upon the deposit with it of any funds by the Federal Government, an Indian tribe, or any State or local government or political subdivision thereof as otherwise authorized by this chapter, is authorized to pledge any of its assets securing the payment of the funds so deposited.
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Source location: Title 12, Chapter 14, § 1769; chapter-014-federal-credit-unions.md
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**(a)** Each Federal credit union organized under this chapter, when requested by the Secretary of the Treasury, shall act as fiscal agent of the United States and shall perform such services as the Secretary of the Treasury may require in connection with the collection of taxes and other obligations due the United States and the lending, borrowing, and repayment of money by the United States, including the issue, sale, redemption, or repurchase of bonds, notes, Treasury certificates of indebtedness, or other obligations of the United States; and to facilitate such purposes the Board shall furnish to the Secretary of the Treasury from time to time the names and addresses of all Federal credit unions with such other available information concerning them as may be requested by the Secretary of the Treasury. Any Federal credit union organized under this chapter, when designated for that purpose by the Secretary of the Treasury, shall be a depository of public money, except receipts from customs, under such regulations as may be prescribed by the Secretary of the Treasury.
**(b)** Any Federal credit union, upon the deposit with it of any funds by the Federal Government, an Indian tribe, or any State or local government or political subdivision thereof as otherwise authorized by this chapter, is authorized to pledge any of its assets securing the payment of the funds so deposited.
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Federal law — U.S. Code and appendices · legal_authorities
The facility is authorized to act upon the request of the Board of Governors of the Federal Reserve System as an agent of the Federal Reserve System in matters pertaining to credit unions under such terms and conditions as may be established by the Board of Governors of the Federal Reserve System.
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Federal Credit Union Act”.
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Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any other provision of law, upon application by any credit union organized under State law or by any Federal credit union organized in accordance with the terms of this chapter, which application shall be addressed to the officer or agency of the United States charged with the allotment of space on lands reserved for the use of, and under the exclusive or concurrent jurisdiction of, the United States or in the Federal buildings in the community or district in which such credit union does business, such officer or agency may in his or its discretion lease land or allot space to such credit union without charge for rent or services if at least 95 percent of the membership of the credit union to be served by the allotment of space or the facility built on the lease land is composed of persons who either are presently Federal employees or were Federal employees at the time of admission into the credit union, and members of their families, and if space is available. For the purpose of this section, the term “services” includes, but is not limited to, the providing of lighting, heating, cooling, electricity, office furniture, office machines and equipment, telephone service (including installation of lines and equipment and other expenses associated with telephone service), and security systems (including installation and other expenses associated with security systems). Where there is an agreement for the payment of costs associated with the provision of space or services, nothing in title 31 or any other provision of law, shall be construed to prohibit or restrict payment by reimbursement to the miscellaneous receipts or other appropriate account of the Treasury.
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Federal law — U.S. Code and appendices · legal_authorities
Page 879
TITLE 12—BANKS AND BANKING
§ 1770
(June 26, 1934, ch. 750, title I, § 121, formerly § 17,
48 Stat. 1222; 1947, Reorg. Plan No. 1, § 401, eff.
July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29,
1948, ch. 711, §§ 1, 2, 62 Stat. 1091; renumbered § 22,
Pub. L. 86–354, § 1, Sept. 22, 1959, 73 Stat. 637;
amended Pub. L. 91–206, § 2(1), Mar. 10, 1970, 84
Stat. 49; renumbered title I, § 121, Pub. L. 91–468,
§ 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L.
95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681;
Pub. L. 100–86, title VII, § 716, Aug. 10, 1987, 101
Stat. 656.)
Editorial Notes
AMENDMENTS
1987—Pub. L. 100–86 designated existing provisions as
subsec. (a) and added subsec. (b).
1978—Pub. L. 95–630 substituted ‘‘Board’’ for ‘‘Admin-
istrator’’.
1970—Pub. L. 91–206 substituted ‘‘Administrator’’ for
‘‘Director’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95–630 effective on expiration
of 120 days after Nov. 10, 1978, and transitional provi-
sions, see section 509 of Pub. L. 95–630, set out as a note
under section 1752 of this title.
Executive Documents
TRANSFER OF FUNCTIONS
Transfer of functions of Farm Credit Administration
and Governor thereof, generally, see notes set out
under section 1751 of this title.
Functions of Governor of Farm Credit Administra-
tion under this section transferred to Federal Deposit
Insurance Corporation by Reorg. Plan No. 1 of 1947.
§ 1768. Taxation
The Federal credit unions organized here-
under, their property, their franchises, capital,
reserves, surpluses, and other funds, and their
income shall be exempt from all taxation now or
hereafter imposed by the United States or by
any State, Territorial, or local taxing authority;
except that any
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1769
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