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12 U.S.C. § 4702 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter, the following definitions shall apply:
(1) **Administrator** — The term “Administrator” means the Administrator of the Fund appointed under [section 4703(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/b&num=0&edition=prelim).
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency” 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 also includes the National Credit Union Administration Board with respect to insured credit unions.
(3) **Affiliate** — The term “affiliate” has the same meaning as in [section 1841(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/k&num=0&edition=prelim).
(4) **Board** — The term “Board” means the Community Development Advisory Board established under [section 4703(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/d&num=0&edition=prelim).
(5) **Community development financial institution**
(A) *In general* — The term “community development financial institution” means a person (other than an individual) that—
(i) has a primary mission of promoting community development;
(ii) serves an investment area or targeted population;
(iii) provides development services in conjunction with equity investments or loans, directly or through a subsidiary or affiliate;
(iv) maintains, through representation on its governing board or otherwise, accountability to residents of its investment area or targeted population; and
(v) is not an agency or instrumentality of the United States, or of any State or
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Source file: Laws/federal/codes/united-states-code/title-12/section-4702-definitions--f65792a835.md
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Source location: Title 12, Chapter 47, § 4702; chapter-047-community-development-banking.md
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For purposes of this subchapter, the following definitions shall apply:
(1) **Administrator** — The term “Administrator” means the Administrator of the Fund appointed under [section 4703(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/b&num=0&edition=prelim).
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency” 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 also includes the National Credit Union Administration Board with respect to insured credit unions.
(3) **Affiliate** — The term “affiliate” has the same meaning as in [section 1841(k) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841/k&num=0&edition=prelim).
(4) **Board** — The term “Board” means the Community Development Advisory Board established under [section 4703(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/d&num=0&edition=prelim).
(5) **Community development financial institution**
(A) *In general* — The term “community development financial institution” means a person (other than an individual) that—
(i) has a primary mission of promoting community development;
(ii) serves an investment area or targeted population;
(iii) provides development services in conjunction with equity investments or loans, directly or through a subsidiary or affiliate;
(iv) maintains, through representation on its governing board or otherwise, accountability to residents of its investment area or targeted population; and
(v) is not an agency or instrumentality of the United States, or of any State or political subdivision of a State.
(B) *Conditions for qualification of holding companies*
(i) *Consolidated treatment* — A depository institution holding company may qualify as a community development financial institution only if the holding company and the subsidiaries and affiliates of the holding company collectively satisfy the requirements of subparagraph (A).
(ii) *Exclusion of subsidiary or affiliate for failure to meet consolidated treatment rule* — No subsidiary or affiliate of a depository institution holding company may qualify as a community development financial institution if the holding company and the subsidiaries and affiliates of the holding company do not collectively meet the requirements of subparagraph (A).
(C) *Conditions for subsidiaries* — No subsidiary of an insured depository institution may qualify as a community development financial institution if the insured depository institution and its subsidiaries do not collectively meet the requirements of subparagraph (A).
(6) **Community partner** — The term “community partner” means a person (other than an individual) that provides loans, equity investments, or development services, including a depository institution holding company, an insured depository institution, an insured credit union, a nonprofit organization, a State or local government agency, a quasi-governmental entity, and an investment company authorized to operate pursuant to the Small Business Investment Act of 1958 [[15 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section661&num=0&edition=prelim) et seq.].
(7) **Community partnership** — The term “community partnership” means an agreement between a community development financial institution and a community partner to provide development services, loans, or equity investments, to an investment area or targeted population.
(8) **Depository institution holding company** — The term “depository institution holding company” 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).
(9) **Development services** — The term “development services” means activities that promote community development and are integral to lending or investment activities, including—
(A) business planning;
(B) financial and credit counseling; and
(C) marketing and management assistance.
(10) **Fund** — The term “Fund” means the Community Development Financial Institutions Fund established under [section 4703(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4703/a&num=0&edition=prelim).
(11) **Indian reservation** — The term “Indian reservation” has the same meaning as in [section 1903(10) of title 25](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1903/10&num=0&edition=prelim), and shall include land held by incorporated Native groups, regional corporations, and village corporations, as defined in or established pursuant to the Alaska Native Claims Settlement Act [[43 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1601&num=0&edition=prelim) et seq.], public domain Indian allotments, and former Indian reservations in the State of Oklahoma.
(12) **Indian tribe** — The term “Indian tribe” means any Indian tribe, band, pueblo, nation, or other organized group or community, including any Alaska Native village or regional or village corporation, as defined in or established pursuant to the Alaska Native Claims Settlement Act [[43 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1601&num=0&edition=prelim) et seq.], which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians.
(13) **Insured community development financial institution** — The term “insured community development financial institution” means any community development financial institution that is an insured depository institution or an insured credit union.
(14) **Insured credit union** — The term “insured credit union” has the same meaning as in [section 1752(7) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752/7&num=0&edition=prelim).
(15) **Insured depository institution** — The term “insured depository institution” 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).
(16) **Investment area** — The term “investment area” means a geographic area (or areas) including an Indian reservation that—
(A)
(i) meets objective criteria of economic distress developed by the Fund, which may include the percentage of low-income families or the extent of poverty, the rate of unemployment or underemployment, rural population outmigration, lag in population growth, and extent of blight and disinvestment; and
(ii) has significant unmet needs for loans or equity investments; or
(B) encompasses or is located in an empowerment zone or enterprise community designated under [section 1391 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section1391&num=0&edition=prelim).
(17) **Low-income** — The term “low-income” means having an income, adjusted for family size, of not more than—
(A) for metropolitan areas, 80 percent of the area median income; and
(B) for nonmetropolitan areas, the greater of—
(i) 80 percent of the area median income; or
(ii) 80 percent of the statewide nonmetropolitan area median income.
(18) **State** — The term “State” 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).
(19) **Subsidiary** — The term “subsidiary” 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), except that a community development financial institution that is a corporation shall not be considered to be a subsidiary of any insured depository institution or depository institution holding company that controls less than 25 percent of any class of the voting shares of such corporation, and does not otherwise control in any manner the election of a majority of the directors of the corporation.
(20) **Targeted population** — The term “targeted population” means individuals, or an identifiable group of individuals, including an Indian tribe, who—
(A) are low-income persons; or
(B) otherwise lack adequate access to loans or equity investments.
(21) **Training program** — The term “training program” means the training program operated by the Fund under [section 4708 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4708&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** From among the areas nominated for designation under this section, the appropriate Secretaries may designate empowerment zones and enterprise communities.
**(b) Number of designations**
(1) **Enterprise communities** — The appropriate Secretaries may designate in the aggregate 95 nominated areas as enterprise communities under this section, subject to the availability of eligible nominated areas. Of that number, not more than 65 may be designated in urban areas and not more than 30 may be designated in rural areas.
(2) **Empowerment zones** — The appropriate Secretaries may designate in the aggregate 11 nominated areas as empowerment zones under this section, subject to the availability of eligible nominated areas. Of that number, not more than 8 may be designated in urban areas and not more than 3 may be designated in rural areas. If 8 empowerment zones are designated in urban areas, no less than 1 shall be designated in an urban area the most populous city of which has a population of 500,000 or less and no less than 1 shall be a nominated area which includes areas in 2 States and which has a population of 50,000 or less. The Secretary of Housing and Urban Development shall designate empowerment zones located in urban areas in such a manner that the aggregate population of all such zones does not exceed 1,000,000.
**(c) Period designations may be made** A designation may be made under subsection (a) only after 1993 and before 1996.
**(d) Period for which designation is in effect**
(1) **In general** — Any designation under this section shall remain in effect during the period beginning on the date of the designation and ending on the earliest of—
(A)
(i) in the case of an empowerment zone, December 31, 2025, or
(ii) in the case of
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1391
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Federal law — U.S. Code and appendices · legal_authorities
It is declared to be the policy of the Congress and the purpose of this chapter to improve and stimulate the national economy in general and the small-business segment thereof in particular by establishing a program to stimulate and supplement the flow of private equity capital and long-term loan funds which small-business concerns need for the sound financing of their business operations and for their growth, expansion, and modernization, and which are not available in adequate supply: Provided, however, That this policy shall be carried out in such manner as to insure the maximum participation of private financing sources.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 661
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Federal law — U.S. Code and appendices · legal_authorities
Congress finds and declares that—
**(a)** there is an immediate need for a fair and just settlement of all claims by Natives and Native groups of Alaska, based on aboriginal land claims;
**(b)** the settlement should be accomplished rapidly, with certainty, in conformity with the real economic and social needs of Natives, without litigation, with maximum participation by Natives in decisions affecting their rights and property, without establishing any permanent racially defined institutions, rights, privileges, or obligations, without creating a reservation system or lengthy wardship or trusteeship, and without adding to the categories of property and institutions enjoying special tax privileges or to the legislation establishing special relationships between the United States Government and the State of Alaska;
**(c)** no provision of this chapter shall replace or diminish any right, privilege, or obligation of Natives as citizens of the United States or of Alaska, or relieve, replace, or diminish any obligation of the United States or of the State or 11 So in original. Probably should be “of”. Alaska to protect and promote the rights or welfare of Natives as citizens of the United States or of Alaska; the Secretary is authorized and directed, together with other appropriate agencies of the United States Government, to make a study of all Federal programs primarily designed to benefit Native people and to report back to the Congress with his recommendations for the future management and operation of these programs within three years of December 18, 1971;
**(d)** no provision of this chapter shall constitute a precedent for reopening, renegotiating, or legislating upon any past settlement involving land claims or other matters with any Native organizations, or any
Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 1601
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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** The Fund may operate a training program to increase the capacity and expertise of community development financial institutions and other members of the financial services industry to undertake community development finance activities.
**(b) Program activities** The training program shall provide educational programs to assist community development financial institutions and other members of the financial services industry in developing lending and investment products, underwriting and servicing loans, managing equity investments, and providing development services targeted to areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(c) Participation** The training program shall be made available to community development financial institutions and other members of the financial services industry that serve or seek to serve areas of economic distress, low-income persons, and persons who lack adequate access to loans and equity investments.
**(d) Contracting** The Fund may offer the training program described in this section directly or through a contract with other organizations. The Fund may contract to provide the training program through organizations that possess special expertise in community development, without regard to whether the organizations receive or are eligible to receive assistance under this subchapter.
**(e) Coordination** The Fund shall coordinate with other appropriate Federal departments or agencies that operate similar training programs in order to prevent duplicative efforts.
**(f) Regulatory fee for providing training services**
(1) **General rule** — The Fund may, at the discretion of the Administrator and in accordance with this subsection, assess and collect
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4708
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Demonstration mortgage risk-sharing program; areas; number of mortgages** The purpose of this section is to authorize a demonstration mortgage risk-sharing program designed to test the feasibility of entering into risk-sharing contracts with private mortgage insurers and with insured community development financial institutions in order to reduce Government risk and administrative costs, and to speed mortgage processing. The Secretary shall limit the demonstration under this section to not more than four administrative regions of the Department of Housing and Urban Development, and shall assure that the program is in the financial interest of the Government and will not result in loss of employment by any employees of the Department of Housing and Urban Development before the expiration of the 5-year period beginning on December 21, 2000. The aggregate number of mortgages for which risk of nonpayment is shared under this section in any administrative region of the Department of Housing and Urban Development in any fiscal year may not exceed 20 percent of the aggregate number of mortgages and loans insured by the Secretary under this subchapter in such region during the preceding fiscal year.
**(b) One- to four-family dwellings; requirements for private mortgage insurance companies** Notwithstanding any other provision of this chapter inconsistent with this section, the Secretary is authorized, in providing mortgage insurance with respect to one- to four-family dwellings under sections 1709(b), 1715y, and 1715z–10 11 See References in Text note below. of this title, to enter into risk-sharing contracts with private mortgage insurance companies which have been determined to be qualified insurers under [section 1717(b)(2)(C) of this title](https://uscode.house.gov/v
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1735f–18
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** On and after August 7, 1998, no insured credit union may make any member business loan that would result in a total amount of such loans outstanding at that credit union at any one time equal to more than the lesser of—
(1) 1.75 times the actual net worth of the credit union; or
(2) 1.75 times the minimum net worth required under [section 1790d(c)(1)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1790d/c/1/A&num=0&edition=prelim) for a credit union to be well capitalized.
**(b) Exceptions** Subsection (a) does not apply in the case of—
(1) an insured credit union chartered for the purpose of making, or that has a history of primarily making, member business loans to its members, as determined by the Board; or
(2) an insured credit union that—
(A) serves predominantly low-income members, as defined by the Board; or
(B) is a community development financial institution, as defined in [section 4702 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4702&num=0&edition=prelim).
**(c) Definitions** As used in this section—
(1) the term “member business loan”—
(A) means any loan, line of credit, or letter of credit, the proceeds of which will be used for a commercial, corporate or other business investment property or venture, or agricultural purpose; and
(B) does not include an extension of credit—
(i) that is fully secured by a lien on a 1- to 4-family dwelling;
(ii) that is fully secured by shares in the credit union making the extension of credit or deposits in other financial institutions;
(iii) that is described in subparagraph (A), if it was made to a borrower or an associated member that has a total of all such extensions of credit
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1759
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Federal law — U.S. Code and appendices · legal_authorities
In this chapter, the following definitions shall apply:
(1) **Appropriate committees of Congress** — The term “appropriate committees of Congress” means—
(A) the Committee on Small Business and Entrepreneurship, the Committee on Agriculture, Nutrition, and Forestry, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and
(B) the Committee on Small Business, the Committee on Agriculture, the Committee on Financial Services, the Committee on Ways and Means, the Committee on the Budget, and the Committee on Appropriations of the House of Representatives.
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency”—
(A) has the same meaning as in [section 1813(q) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q&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) **Enrolled loan** — The term “enrolled loan” means a loan made by a financial institution lender that is enrolled by a participating State in an approved State capital access program in accordance with this chapter.
(4) **Federal contribution** — The term “Federal contribution” means the portion of the contribution made by a participating State to, or for the account of, an approved State program that is made with Federal funds allocated to the State by the Secretary under [section 5702 of this title](https://uscode.house.gov/view.xhtml?r
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Appropriate committees of Congress** — The term “appropriate committees of Congress” means—
(A) the Committee on Commerce, Science, and Transportation, the Committee on Environment and Public Works, and the Committee on Appropriations of the Senate; and
(B) the Committee on Science, Space, and Technology and the Committee on Appropriations of the House of Representatives.
(2) **Cooperative extension services** — The term “cooperative extension services” has the meaning given the term in [section 3103 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section3103&num=0&edition=prelim).
(3) **Site connectivity infrastructure** — The term “site connectivity infrastructure” means localized driveways and access roads to a facility as well as hookups to the new facility for drinking water, waste water, broadband, and other basic infrastructure services already present in the area.
(4) **Venture development organization** — The term “venture development organization” has the meaning given such term in [section 3722(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section3722/a&num=0&edition=prelim).11 See References in Text note below.
(5) **Community development financial institution** — The term “community development financial institution” has the meaning given in [section 4702 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4702&num=0&edition=prelim).
(6) **Minority depository institution** — The term “minority depository institution” means an entity that is—
(A) a minority depository institution, as defined in section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ([12 U.S.C.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 3722a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations** The Administration is empowered to the extent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business concern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the following restrictions, limitations, and provisions:
(1) **In general.—**
(A) *Credit elsewhere.—*
(i) *In general.—* — The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere. No financial assistance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participation may be purchased unless it is shown that a deferred participation is not available; and no direct financing may be made unless it is shown that a participation is not available.
(ii) *Liquidity.—* — On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market.
(B) *Background checks.—* — Prior to the approval of any loan made pursuant to this subsecti
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636
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