Laws: Cases and Codes : U.S. Code : Title 12
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U.S. Code as of:
01/19/04
Chapter 11 - Notes
Sec.
1421. Short title.
1422. Definitions.
1422a. Federal Housing Finance Board.
(a) Establishment.
(b) Management.
(c) Chairperson; transitional provisions.
(d) Vacancies.
1422b. Powers and duties.
(a) General powers.
(b) Staff.
(c) Receipts of Board.
(d) Annual report.
1423. Federal Home Loan Bank districts; number and
boundaries; establishment of Federal Home Loan Banks;
names.
1424. Eligibility for membership.
(a) Criteria for eligibility.
(b) Location requirement.
(c) Inspection and regulation requirements.
1425 to 1425b. Repealed.
1426. Capital structure of Federal home loan banks.
(a) Regulations.
(b) Capital structure plan.
(c) Contents of plan.
(d) Termination of membership.
(e) Redemption of excess stock.
(f) Impairment of capital.
(g) Rejoining after divestiture of all shares.
(h) Treatment of retained earnings.
1427. Directors.
(a) Number; appointment and election;
qualifications; conflicts of interest.
(b) Elective directorships; qualifications;
nominations and election.
(c) Apportionment among States in bank district;
designation of State location.
(d) Terms; rules and regulations governing
nominations and elections.
(e) Continuation of existing terms; directorship
for the Commonwealth of Puerto Rico.
(f) Vacancies.
(g) Chairperson and Vice Chairperson.
(h) Appointment where members hold less than
$1,000,000 of capital stock.
(i) Directors' compensation.
(j) Duties of directors.
(k) Indemnification of directors, officers, and
employees.
1428. Examination of State laws, regulations, and
procedures; studies of values, etc.
1428a. Repealed.
1429. Eligibility to secure advances.
1430. Advances to members.
(a) In general.
(b) Appraisals and other investigations; acceptance
of home mortgages as collateral security only
by formal Board resolution.
(c) Notes of borrowing members; interest rate; lien
on stock.
(d) Obligation to repay; additional security; sale
of advances to other banks.
(e) Priority of certain secured interests.
(g) Community support requirements.
(h) Special liquidity advances.
(i) Community investment program.
(j) Affordable housing program.
1430a. Omitted.
1430b. Advances to nonmember mortgagee; terms and conditions.
(a) In general.
(b) Exception.
1431. Powers and duties of banks.
(a) Borrowing money; issuing bonds and debentures;
general powers.
(b) Issuance of consolidated Federal Home Loan Bank
debentures; restrictions.
(c) Issuance of Federal Home Loan Bank bonds.
(d) Additional or substituted collateral on
adjustment of equities.
(e) Acceptance of deposits; restrictions on
transaction of banking business; collection
and settlement of checks, drafts, etc.;
charges; rules and regulations.
(f) Rediscount of notes held by other banks;
purchase of bonds of other banks.
(g) Reserves.
(h) Investment of surplus funds.
(i) Treasury purchase of banks' obligations;
exercise of authority.
(j) Audits.
(k) Bank losses to Deposit Insurance Fund.
1432. Incorporation of banks; corporate powers; housing
project loans.
1433. Exemption from taxation; obligations acceptable as
credit on debt of home owner.
1434. Depositaries of public money; financial agents.
1435. Obligations as lawful investments; liability of United
States for debentures, etc., issued by banks.
1436. Reserves and dividends; emergency suspensions of
requirements.
(a) Accumulation and maintenance of reserves;
payment of dividends.
(b) Assistance to member institutions in event of
severe financial conditions.
(c) Exception in case of losses in connection with
Financing Corporation stock.
1437. Repealed.
1438. Administrative expenses.
(a) Repealed.
(b) Assessments for administrative expenses.
(c) Quarters and facilities; advances of funds;
obligations of United States; legal
investments; approval of plans and designs;
custody, management, and control; receipts;
expense exclusions; property defined; budget
preparation program; audit; zoning
regulations; delegation of functions;
limitation on obligations.
1438a. Nonadministrative expenses; expenses of studies and
investigations.
1439, 1439-1. Repealed.
1439a. Deposits in special fund; availability for all
purposes of Federal Home Loan Bank Board and Federal
Home Loan Bank Administration.
1440. Examinations and audits.
1441. Financing Corporation.
(a) Establishment.
(b) Management of Financing Corporation.
(c) Powers of Financing Corporation.
(d) Capitalization of Financing Corporation.
(e) Obligations of Financing Corporation.
(f) Sources of funds for interest payments;
Financing Corporation assessment authority.
(g) Use and disposition of assets of Financing
Corporation not invested in FSLIC.
(h) Miscellaneous provisions relating to Financing
Corporation.
(i) Termination of Financing Corporation.
(j) Regulations.
(k) Definitions.
1441a. Thrift Depositor Protection Oversight Board and
Resolution Trust Corporation.
(a) Thrift Depositor Protection Oversight Board
established.
(b) Resolution Trust Corporation established.
(c) Disposition of eligible residential properties.
(d) National and regional advisory boards.
(e) Institutions organized by Corporation.
(f) Limitation on certain Corporation activities.
(g) Exemption from State and local taxation.
(h) Guarantees of FSLIC.
(i) Funding.
(j) Maximum amount limitations on outstanding
obligations.
(k) Reporting and disclosure obligations.
(l) Power to remove; jurisdiction.
(m) Termination.
(n) Conflict of interest.
(o) Status of employees.
(p) Management enhancement goals.
(q) RTC, Thrift Depositor Protection Oversight
Board, and RTC contractor employee protection
remedy.
(r) Review and evaluation procedure for contracts.
(s) Acquisition of branch facilities in minority
neighborhoods.
(t) Assistance under circumstances for acquisition
of majority-owned institutions.
(u) Minority interim capital assistance program.
(v) Continuation of obligation to provide services.
(w) RTC management reforms.
(x) Limitation on excessive compensation and cash
awards.
(y) Authority to execute contracts.
(z) Additional contracting requirements.
1441a-1. Definitions.
1441a-2. Authorization for State housing finance agencies and
nonprofit entities to purchase mortgage-related
assets.
(a) Authorization.
(b) Investment requirement.
1441a-3. RTC and FDIC properties.
(a) Reports.
(b) Limitation on transfer.
(c) Definitions.
1441b. Resolution Funding Corporation established.
(a) Purpose.
(b) Establishment.
(c) Management of Funding Corporation.
(d) Powers of Funding Corporation.
(e) Capitalization of Funding Corporation, etc.
(f) Obligations of Funding Corporation.
(g) Use and disposition of assets of Funding
Corporation not transferred to Resolution
Trust Corporation.
(h) Miscellaneous provisions.
(i) Annual report.
(j) Termination of Funding Corporation.
(k) Definitions.
(l) Regulations.
1442. Member financial information.
(a) In general.
(b) Consent by members.
1442a. Repealed.
1443. Forms of bank stock and obligations.
1444. Eligibility to membership in banks.
1445. Succession of Federal Home Loan Banks.
1446. Liquidation or reorganization; acquisition of assets
by other banks; assumption of liabilities.
1447. Repealed.
1448. Effect of partial invalidity of chapter.
1449. Reservation of right to amend or repeal chapter.
-SECREF-
CHAPTER REFERRED TO IN OTHER SECTIONS
This chapter is referred to in sections 1464, 4501 of this title.
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