12 U.S.C. § 4709 — Encouragement of private entities

FEDERAL · 12 U.S.C. · Chapter 47

Encouragement of private entities

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 47 — COMMUNITY DEVELOPMENT BANKING·Subch. I

The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.

Free access — add to your briefcase to read the full text and ask questions with AI

The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.

12 U.S.C. § 4709 (Encouragement of private entities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 103–325, title I, §110, Sept. 23, 1994, 108 Stat. 2177.)