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12 U.S.C. § 1756a — Fees
Federal law — U.S. Code and appendices · legal_authorities
**(a) Payment by Federal credit union to Administration** In accordance with rules prescribed by the Board, each Federal credit union shall pay to the Administration an annual operating fee which may be composed of one or more charges identified as to the function or functions for which assessed.
**(b) Determinations of amount, assessment periods, and payment dates** The fee assessed under this section shall be determined according to a schedule, or schedules, or other method determined by the Board to be appropriate, which gives due consideration to the expenses of the Administration in carrying out its responsibilities under this chapter and to the ability of Federal credit unions to pay the fee. The Board shall, among other things, determine the periods for which the fee shall be assessed and the date or dates for the payment of the fee or increments thereof.
**(c) Supervision charge exception; waiver of payment** If the annual operating fee is composed of separate charges, no supervision charge shall be payable by a Federal credit union, and the Board may waive payment of any or all other charges comprising the fee, with respect to the year in which its charter is issued, or in which final distribution is made in its liquidation or the charter is canceled.
**(d) Payment into Treasury of United States** All operating fees shall be deposited with the Treasurer of the United States for the account of the Administration and may be expended by the Board to defray the expenses incurred in carrying out the provisions of this chapter including the examination and supervision of Federal credit unions.
**(e) Investment of annual operating fees not needed for current operations**
(1) Upon request of the Board, the Secretary of the Treasury shall invest and reinvest such p
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Source location: Title 12, Chapter 14, § 1756a; chapter-014-federal-credit-unions.md
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**(a) Payment by Federal credit union to Administration** In accordance with rules prescribed by the Board, each Federal credit union shall pay to the Administration an annual operating fee which may be composed of one or more charges identified as to the function or functions for which assessed.
**(b) Determinations of amount, assessment periods, and payment dates** The fee assessed under this section shall be determined according to a schedule, or schedules, or other method determined by the Board to be appropriate, which gives due consideration to the expenses of the Administration in carrying out its responsibilities under this chapter and to the ability of Federal credit unions to pay the fee. The Board shall, among other things, determine the periods for which the fee shall be assessed and the date or dates for the payment of the fee or increments thereof.
**(c) Supervision charge exception; waiver of payment** If the annual operating fee is composed of separate charges, no supervision charge shall be payable by a Federal credit union, and the Board may waive payment of any or all other charges comprising the fee, with respect to the year in which its charter is issued, or in which final distribution is made in its liquidation or the charter is canceled.
**(d) Payment into Treasury of United States** All operating fees shall be deposited with the Treasurer of the United States for the account of the Administration and may be expended by the Board to defray the expenses incurred in carrying out the provisions of this chapter including the examination and supervision of Federal credit unions.
**(e) Investment of annual operating fees not needed for current operations**
(1) Upon request of the Board, the Secretary of the Treasury shall invest and reinvest such portions of the annual operating fees deposited under subsection (d) as the Board determines are not needed for current operations.
(2) Such investments may be made only in interest bearing securities of the United States with maturities requested by the Board bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities.
(3) All income derived from such investments and reinvestments shall be deposited to the account of the Administration described in subsection (d).
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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
This chapter may be cited as the “Federal Credit Union Act”.
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Federal law — U.S. Code and appendices · legal_authorities
Page 860
TITLE 12—BANKS AND BANKING
§ 1756
§ 1756. Reports and examinations
Federal credit unions shall be under the super-
vision of the Board, and shall make financial re-
ports to it as and when it may require, but at
least annually. Each Federal credit union shall
be subject to examination by, and for this pur-
pose shall make its books and records accessible
to, any person designated by the Board.
(June 26, 1934, ch. 750, title I, § 106, formerly § 6,
48 Stat. 1218; Dec. 6, 1937, ch. 3, § 1, 51 Stat. 4; 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 § 7 and amended Pub. L.
86–354, § 1, Sept. 22, 1959, 73 Stat. 629; Pub. L.
91–206, § 2(1), Mar. 10, 1970, 84 Stat. 49; renum-
bered title I, § 106, Pub. L. 91–468, § 1(2), Oct. 19,
1970, 84 Stat. 994; amended Pub. L. 95–630, title V,
§ 508, Nov. 10, 1978, 92 Stat. 3683.)
Editorial Notes
AMENDMENTS
1978—Pub. L. 95–630 substituted ‘‘Board’’ for ‘‘Admin-
istrator’’ in two places and ‘‘reports to it as and when
it’’ for ‘‘reports to him as and when he’’ and struck out
provisions relating to the payment of an examination
fee by Federal credit unions and the deposit of such fee
to the credit of the special fund created by section 1755
of this title.
1970—Pub. L. 91–206 substituted ‘‘Administrator’’ for
‘‘Director’’ in three places.
1959—Pub. L. 86–354 provided for the making of re-
ports to the Director as and when he may require.
1937—Act Dec. 6, 1937, inserted ‘‘giving due consider-
ation to the time and expense incident to such exami-
nations, and to the ability of Federal credit unions to
pay such fees’’ and struck out proviso relating to condi-
tions relieving certain unions from payment of exam-
ination fee
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1756a
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