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12 U.S.C. § 4742 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter—
(1) the term “Fund” means the Community Development Financial Institutions Fund established under [section 4703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703&num=0&edition=prelim);
(2) the term “appropriate Federal banking agency”—
(A) has the same meaning as in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim); and
(B) includes the National Credit Union Administration Board in the case of any credit union the deposits of which are insured in accordance with the Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.];
(3) the term “early loan” means a loan enrolled at a time when the aggregate covered amount of loans previously enrolled under the Program by a particular participating financial institution is less than $5,000,000;
(4) the term “enrolled loan” means a loan made by a participating financial institution that is enrolled by a participating State in accordance with this subchapter;
(5) the term “financial institution” means any federally chartered or State-chartered commercial bank, savings association, savings bank, or credit union;
(6) the term “participating financial institution” means any financial institution that has entered into a participation agreement with a participating State in accordance with [section 4744 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4744&num=0&edition=prelim);
(7) the term “participating State” means any State that has been approved for participation in the Program in accordance with [section 4743 of this titl
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Source file: Laws/federal/codes/united-states-code/title-12/section-4742-definitions--13e16d9b6a.md
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Source location: Title 12, Chapter 47, § 4742; chapter-047-community-development-banking.md
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For purposes of this subchapter—
(1) the term “Fund” means the Community Development Financial Institutions Fund established under [section 4703 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703&num=0&edition=prelim);
(2) the term “appropriate Federal banking agency”—
(A) has the same meaning as in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim); and
(B) includes the National Credit Union Administration Board in the case of any credit union the deposits of which are insured in accordance with the Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.];
(3) the term “early loan” means a loan enrolled at a time when the aggregate covered amount of loans previously enrolled under the Program by a particular participating financial institution is less than $5,000,000;
(4) the term “enrolled loan” means a loan made by a participating financial institution that is enrolled by a participating State in accordance with this subchapter;
(5) the term “financial institution” means any federally chartered or State-chartered commercial bank, savings association, savings bank, or credit union;
(6) the term “participating financial institution” means any financial institution that has entered into a participation agreement with a participating State in accordance with [section 4744 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4744&num=0&edition=prelim);
(7) the term “participating State” means any State that has been approved for participation in the Program in accordance with [section 4743 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4743&num=0&edition=prelim);
(8) the term “passive real estate ownership” means ownership of real estate for the purpose of deriving income from speculation, trade, or rental, except that such term shall not include—
(A) the ownership of that portion of real estate being used or intended to be used for the operation of the business of the owner of the real estate (other than the business of passive ownership of real estate); or
(B) the ownership of real estate for the purpose of construction or renovation, until the completion of the construction or renovation phase;
(9) the term “Program” means the Small Business Capital Enhancement Program established under this subchapter;
(10) the term “reserve fund” means a fund, established by a participating State, earmarked for a particular participating financial institution, for the purposes of—
(A) depositing all required premium charges paid by the participating financial institution and by each borrower receiving a loan under the Program from a participating financial institution;
(B) depositing contributions made by the participating State; and
(C) covering losses on enrolled loans by disbursing accumulated funds; and
(11) the term “State” means—
(A) a State of the United States;
(B) the District of Columbia;
(C) any political subdivision of a State of the United States, which subdivision has a population in excess of the population of the least populated State of the United States; and
(D) any other political subdivision of a State of the United States that the Fund determines has the capacity to participate in the program.11 So in original. Probably should be capitalized.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment**
(1) **In general** — There is established a corporation to be known as the Community Development Financial Institutions Fund that shall have the duties and responsibilities specified by this subchapter and subchapter II of this chapter. The Fund shall have succession until dissolved. The offices of the Fund shall be in Washington, D.C. The Fund shall not be affiliated with or be within any other agency or department of the Federal Government.
(2) **Wholly owned Government corporation** — The Fund shall be a wholly owned Government corporation in the executive branch and shall be treated in all respects as an agency of the United States, except as otherwise provided in this subchapter.
**(b) Management of Fund**
(1) **Appointment of Administrator** — The management of the Fund shall be vested in an Administrator, who shall be appointed by the President. The Administrator shall not engage in any other business or employment during service as the Administrator.
(2) **Chief financial officer** — The Administrator shall appoint a chief financial officer, who shall have the authority and functions of an agency Chief Financial Officer under [section 902 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section902&num=0&edition=prelim). In the event of a vacancy in the position of the Administrator or during the absence or disability of the Administrator, the chief financial officer shall perform the duties of the position of Administrator.
(3) **Other officers and employees** — The Administrator may appoint such other officers and employees of the Fund as the Administrator determines to be necessary or appropriate.
(4) **Expedited hiring** — During the 2-year period beginning on September 23, 1994, the Administrator
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4703
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Application** Any State may apply to the Fund for approval to be a participating State under the Program and to be eligible for reimbursement by the Fund pursuant to [section 4747 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4747&num=0&edition=prelim).
**(b) Approval criteria** The Fund shall approve a State to be a participating State, if—
(1) a specific department or agency of the State has been designated to implement the Program;
(2) all legal actions necessary to enable such designated department or agency to implement the Program have been accomplished;
(3) funds in the amount of at least $1 for every 2 people residing in the State (as of the last decennial census for which data have been released) are available and have been legally committed to contributions by the State to reserve funds, with such funds being available without time limit and without requiring additional legal action, except that such requirements shall not be construed to limit the authority of the State to take action at a later time that results in the termination of its obligation to enroll loans and make contributions to reserve funds;
(4) the State has prescribed a form of participation agreement to be entered into between it and each participating financial institution that is consistent with the requirements and purposes of this subchapter; and
(5) the State and the Fund have executed a reimbursement agreement that conforms to the requirements of this subchapter.
**(c) Existing State programs**
(1) **In general** — A State that is not a participating State, but that has its own capital access program providing portfolio insurance for business loans (based on a separate loss reserve fund for each financial institution), may apply
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4743
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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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1751
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1813
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund.
**(b) Participating financial institutions** Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4744
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Federal law — U.S. Code and appendices · legal_authorities
Page 853
TITLE 12—BANKS AND BANKING
§ 1751
CHAPTER 14—FEDERAL CREDIT UNIONS
Sec.
1751.
Short title.
1751a.
Omitted.
SUBCHAPTER I—GENERAL PROVISIONS
1752.
Definitions.
1752a.
National Credit Union Administration.
1753.
Federal credit union organization.
1754.
Approval of organization certificate.
1755.
Fees.
1756.
Reports and examinations.
1756a.
Omitted.
1757.
Powers.
1757a.
Limitation on member business loans.
1758.
Bylaws.
1759.
Membership.
1760.
Members’ meetings.
1761.
Management.
1761a.
Officers of the board.
1761b.
Board of directors; meetings; powers and du-
ties; executive committee; membership offi-
cers; membership application.
1761c.
Credit committee.
1761d.
Supervisory committee; powers and duties;
suspension of members; passbook.
1762.
Repealed.
1763.
Dividends.
1764.
Expulsion and withdrawal.
1765.
Minors.
1766.
Powers of Board.
1767.
Fiscal agents and depositories; authorization
to secure deposits by governmental bodies.
1768.
Taxation.
1769.
Separability; right to alter, amend, or repeal
chapter.
1770.
Allotment of space in Federal buildings or
Federal land.
1771.
Conversion from Federal to State credit
union and from State to Federal credit
union.
1772.
Territorial application of chapter.
1772a.
Gifts; acceptance of conditional gifts; deposit.
1772b.
Apportionment.
1772c.
Trust fund.
1772c–1.
Community development revolving loan fund
for credit unions.
1772d.
Forfeiture of organization certificate for
money laundering or cash transaction re-
porting offenses.
1772e.
Data standards.
1772f.
Open data publication.
1773.
District of Columbia credit unions; conver-
sion to Federal status.
1774.
Approval of certificate; assets and obligations
of applicant credit union.
1
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1751
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Federal law — U.S. Code and appendices · legal_authorities
Page 1754
TITLE 12—BANKS AND BANKING
§ 4742
of the information used to verify the person’s iden-
tity, and determine whether the person appears on
any lists of known or suspected terrorists or terrorist
organizations provided to the financial institution by
any government agency.
‘‘(2) LOAN
RECIPIENTS.—With respect to funds re-
ceived by an eligible institution under the Program,
any business receiving a loan from the eligible insti-
tution using such funds after the date of the enact-
ment of this Act [Sept. 27, 2010] shall certify to such
eligible institution that the principals of such busi-
ness have not been convicted of a sex offense against
a minor (as such terms are defined in section 111 of
the Sex Offender Registration and Notification Act
(42 U.S.C. 16911) [now 34 U.S.C. 20911]).
‘‘(d) PROHIBITION
ON
PORNOGRAPHY.—None of the
funds made available under this subtitle may be used to
pay the salary of any individual engaged in activities
related to the Program who has been officially dis-
ciplined for violations of subpart G of the Standards of
Ethical Conduct for Employees of the Executive
Branch for viewing, downloading, or exchanging por-
nography, including child pornography, on a Federal
Government computer or while performing official Fed-
eral Government duties.
‘‘SEC. 4108. CREDIT REFORM; FUNDING.
‘‘(a) CREDIT REFORM.—The cost of purchases of pre-
ferred stock and other financial instruments made as
capital investments under this subtitle shall be deter-
mined as provided under the Federal Credit Reform Act
of 1990 (2 U.S.C. 661 et seq.).
‘‘(b) FUNDS MADE AVAILABLE.—There are hereby ap-
propriated, out of funds in the Treasury not otherwise
appropriated, such sums as may be necessary to pay
the costs of $30,000,000,000 of capital inve
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4742
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