12 U.S.C. § 4744 — Participation agreements

FEDERAL · 12 U.S.C. · Chapter 47

Participation agreements

Current through Pub. L. 119-102

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

(a)In general A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund.

(b)Participating financial institutions Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.

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(a) In general
A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund.
(b) Participating financial institutions
Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.

12 U.S.C. § 4744 (Participation agreements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 103–325, title II, §254, Sept. 23, 1994, 108 Stat. 2207.)