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12 U.S.C. § 3017 — Annual meetings; notice, agenda, etc.

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

12 U.S.C. § 3017 — Annual meetings; notice, agenda, etc.

The Bank shall hold an annual meeting of its stockholders which shall be open to the public. At least 30 days’ advance notice of the time and place of the annual meeting shall be given to all stockholders. Borrowers from the Bank shall also give notice of the meeting to their members, who shall be entitled to attend. At such meeting the Bank shall give a full report of its activities during the year and its financial condition and may present proposals for future action and other matters of general concern to borrowers and organizations eligible to borrow from the Bank. Members and representatives of borrowers may present motions or resolutions relating to matters within the scope of this chapter and may participate in the discussion thereof and other matters on the agenda.

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Source file: Laws/federal/codes/united-states-code/title-12/section-3017-annual-meetings-notice-agenda-etc--f0386cbbb5.md
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Source location: Title 12, Chapter 31, § 3017; chapter-031-national-consumer-cooperative-bank.md

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

12 U.S.C. § 3013 — General corporate powers

The Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance and the results of research, issue its obligations within the limitations imposed by [section 3017 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3017&num=0&edition=prelim) in such amounts, at such times, and on such terms as the Bank may determine, and to exercise the other powers and duties prescribed in this chapter, and shall have the power to— (1) operate under the direction of its Board of Directors; (2) adopt, alter, and use a corporate seal, which shall be judicially noted; (3) elect by its Board of Directors a president, one or more vice presidents, a secretary, a treasurer, and provide for such other officers, employees, and agents as may be necessary, and define their duties in accordance with regulations and standards adopted by the Board, and require surety bonds or make other provisions against losses occasioned by acts of employees; (4) prescribe by its Board of Directors its bylaws not inconsistent with law, which shall establish the terms of office and the procedure for election of elective members; provide in a manner not inconsistent with this chapter for the classes of its stock and the manner in which its stock shall be issued, transferred, and retired; and prescribe the manner in which its officers, employees, and agents are elected or selected, its property acquired, held and transferred, its loans, commitments, other financial assistance, guarantees and appraisals may be made, its general business conducted, and the privilege granted it by law exercised and enjoyed; (5) enter into contracts and make advance, progress, or other payments with respect

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

12 U.S.C. § 3023 — Authorization of additional appropriations; restrictions on use

In addition to appropriations specifically authorized in this chapter, there are authorized to be appropriated $2,000,000 for the fiscal year ending September 30, 1979, and for each of the two succeeding fiscal years, ending September 30, 1980, and September 30, 1981, such sums as may be necessary: Provided, That none of these appropriated sums shall be used to retire any indebtedness of the Bank incurred pursuant to [section 3017 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3017&num=0&edition=prelim). Any sums so appropriated shall remain available until expended.

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

12 U.S.C. § 3017 — Bonds, debentures, notes and other evi-

Page 1485 TITLE 12—BANKS AND BANKING § 3017 ceipts, less the operating and other expenses de- ductible therefrom in accordance with generally accepted accounting principles, including, with- out limitation, contributions to allowable re- serves, and after deducting the amounts of any dividends on its capital stock or other member- ship capital payable during, or within forty-five days after, the close of such period. (d) Cooperatives eligible for other Federal credit assistance An eligible cooperative which also has been determined to be eligible for credit assistance from the Rural Electrification Administration, the National Rural Utilities Cooperative Fi- nance Corporation, the Banks for Cooperatives or other institutions of the Farm Credit System, or the Farmers Home Administration may re- ceive the assistance authorized by this chapter only (1) if the Bank determines that a request for assistance from any such source or sources has been rejected or denied solely because of the unavailability of funds from such source or sources, or (2) by agreement between the Bank and the agency or agencies involved. (e) Credit unions eligible for technical assistance from Office of Self-Help Development and Technical Assistance Notwithstanding any other provision of this section, a credit union serving predominantly low-income members (as defined by the Admin- istrator of the National Credit Union Adminis- tration) may receive technical assistance under subchapter II. (Pub. L. 95–351, title I, § 105, Aug. 20, 1978, 92 Stat. 506; Pub. L. 97–35, title III, § 394(e)(1), (f), Aug. 13, 1981, 95 Stat. 436, 437; Pub. L. 115–334, title VI, § 6602(b)(18), Dec. 20, 2018, 132 Stat. 4777.) Editorial Notes REFERENCES IN TEXT All subchapters of this chapter, refer

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