15 U.S.C. § 9047 — Federal credit union transaction account guarantees

FEDERAL · 15 U.S.C. · Chapter 116

Federal credit union transaction account guarantees

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 116 — CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT)·Subch. III·Pt. A

Notwithstanding any other provision of law and in coordination with the Federal Deposit Insurance Corporation, the National Credit Union Administration Board may by a vote of the Board increase to unlimited, or such lower amount as the Board approves, the share insurance coverage provided by the National Credit Union Share Insurance Fund on any noninterest-bearing transaction account in any federally insured credit union without exception, provided that any such increase shall terminate not later than December 31, 2020.

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Notwithstanding any other provision of law and in coordination with the Federal Deposit Insurance Corporation, the National Credit Union Administration Board may by a vote of the Board increase to unlimited, or such lower amount as the Board approves, the share insurance coverage provided by the National Credit Union Share Insurance Fund on any noninterest-bearing transaction account in any federally insured credit union without exception, provided that any such increase shall terminate not later than December 31, 2020.

15 U.S.C. § 9047 (Federal credit union transaction account guarantees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 116–136, div. A, title IV, §4008(b), Mar. 27, 2020, 134 Stat. 478.)