12 U.S.C. § 1442a — Repealed. Pub. L. 106–102, title VI,

Page 336 TITLE 12—BANKS AND BANKING § 1442a 1 See 2008 Amendment note below. may prescribe, to make available to the board in con- fidence for its use and the use of any Federal Home Loan Bank such reports, records, or other information as may be available, relating to the condition of insti- tutions with respect to which any such Federal Home Loan Bank has had or contemplates having trans- actions under this chapter or relating to persons whose obligations are offered to or held by any Federal Home Loan Bank, and to make through their examiners or other employees, for the confidential use of the board or any Federal Home Loan Bank, examinations of such institutions. ‘‘(b) Every institution which shall apply for advances under this chapter shall, as a condition precedent thereto, consent to such examination as the bank or the board may require for the purposes of this chapter and/or that reports of examinations by constituted au- thorities may be furnished by such authorities to the bank or the board upon request therefor.’’ § 1442a. Repealed. Pub. L. 106–102, title VI, § 606(c), Nov. 12, 1999, 113 Stat. 1454 Section, act July 22, 1932, ch. 522, § 22A, as added Aug. 10, 1987, Pub. L. 100–86, title IV, § 407(d), 101 Stat. 617, re- lated to informal review of certain supervisory deci- sions. § 1443. Forms of bank stock and obligations Any stock, debentures, bonds, notes, or other obligations issued under the authority of this chapter may be issued in uncertificated form, utilizing a book entry method, or in certificated form under such rules, regulations, or guidelines as the Director 1 may provide. (July 22, 1932, ch. 522, § 23, 47 Stat. 739; Pub. L. 101–73, title VII, § 717, Aug. 9, 1989, 103 Stat. 422; Pub. L. 110–289, div. A, title II, § 1204(8), (12), July 30, 2008, 122 Stat. 2786.) Editorial Notes AMENDMENTS 2008—Pub. L. 110–289, which directed amendment of the Federal Home Loan Bank Act (this chapter) by sub- stituting ‘‘the Director’’ for ‘‘the Board’’ and ‘‘Direc- tor’’ for ‘‘Federal Housing Finance Board’’ wherever ap- pearing, was executed to this section by substituting ‘‘the Director’’ for ‘‘the Board of Directors of the Fed- eral Housing Finance Board’’, to reflect the probable intent of Congress. 1989—Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows: ‘‘In order that the Federal Home Loan Banks may be supplied with such forms of stock, debentures, and bonds as may be necessary under this chapter, the Secretary of the Treasury is authorized to prepare such forms thereof as shall be suitable and approved by the board, which shall be held in the Treasury subject to delivery, upon order of the board. The engraved plates, dies, and bed pieces executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The board shall reimburse the Secretary of the Treasury for any expense incurred in the preparation, custody, and delivery of such stock, debentures, and bonds.’’ § 1444. Eligibility to membership in banks (a) Any organization organized under the laws of any State and subject to inspection and regu- lation under the banking or similar laws of such State shall be eligible to become a member under this chapter if— (1) it is organized solely for the purpose of supplying credit to its members; (2) its membership (A) is confined exclu- sively to building and loan associations, sav- ings and loan associations, cooperative banks, and homestead associations; or (B) is confined exclusively to savings banks; and (3) of the institutions to which its member- ship is confined which are organized within the State, its membership includes a majority of such institutions. (b) In all respects, but subject to such addi- tional rules and regulations as the Director may provide, any such organization shall be a mem- ber for the purposes of this chapter. (July 22, 1932, ch. 522, § 24, 47 Stat. 739; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.) Editorial Notes AMENDMENTS 2008—Subsec. (b). Pub. L. 110–289 substituted ‘‘the Di- rector’’ for ‘‘the Board’’. 1989—Subsec. (b). Pub. L. 101–73 substituted ‘‘Board’’ for ‘‘board’’. § 1445. Succession of Federal Home Loan Banks Each Federal Home Loan Bank shall have suc- cession until dissolved by the Director under this chapter or by further act of Congress. (July 22, 1932, ch. 522, § 25, 47 Stat. 740; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.) Editorial Notes AMENDMENTS 2008—Pub. L. 110–289 substituted ‘‘the Director’’ for ‘‘the Board’’. 1989—Pub. L. 101–73 substituted ‘‘Board’’ for ‘‘board’’. § 1446. Liquidation or reorganization; acquisition of assets by other banks; assumption of li- abilities (a) In general Whenever the Director finds that the efficient and economical accomplishment of the purposes of this chapter will be aided by such action, and in accordance with such rules, regulations, and orders as the Director may prescribe, any Fed- eral Home Loan Bank may be liquidated or reor- ganized, and its stock paid off and retired in whole or in part in connection therewith after paying or making provision for the payment of its liabilities. In the case of any such liquidation or reorganization, any other Federal Home Loan Bank may, with the approval of the Director, acquire assets of any such liquidated or reorga- nized bank and assume liabilities thereof, in whole or in part. At least 30 days prior to liqui- dating or reorganizing any Bank under this sec- tion, the Director shall notify the Bank of its determination and the facts and circumstances upon which such determination is based. The Bank may contest that determination in a hear- ing before the Director, in which all issues shall be determined on the record pursuant to section 554 of title 5.