FEDERAL · 12 U.S.C. · Chapter 11
Obligations as lawful investments; liability of United States for debentures, etc., issued by banks
Current through Pub. L. 119-102
Obligations of the Federal Home Loan Banks issued with the approval of the Board or the Director under this chapter shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof. The Federal reserve banks are authorized to act as depositaries, custodians, and/or fiscal agents for Federal Home Loan Banks in the general performance of their powers under this chapter. All obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.
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12 U.S.C. § 1435 (Obligations as lawful investments; liability of United States for debentures, etc., issued by banks) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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363 F. Supp. 1238 (N.D. California, 1973)
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State Department of Assessments & Taxation v. Maryland National Bank
531 A.2d 294 (Court of Appeals of Maryland, 1987)
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687 A.2d 1202 (Commonwealth Court of Pennsylvania, 1997)
Untitled Texas Attorney General Opinion
(Texas Attorney General Reports, 2017)
Debt Obligations of the National Credit Union Administration
(Office of Legal Counsel, 1982)
Transactions Between the Federal Financing Bank and the Department of the Treasury
(Office of Legal Counsel, 1996)
Source Credit
History
(July 22, 1932, ch. 522, §15, 47 Stat. 736; 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(7), July 30, 2008, 122 Stat. 2786.)
Editorial Notes
Editorial Notes
Amendments
2008—Pub. L. 110–289 inserted "or the Director" after "the Board".
1989—Pub. L. 101–73 substituted "Board" for "board".
Amendments
2008—Pub. L. 110–289 inserted "or the Director" after "the Board".
1989—Pub. L. 101–73 substituted "Board" for "board".