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the U.S. Code
1995 U.S. Code
Title 12 - BANKS AND BANKING
CHAPTER 47 - COMMUNITY DEVELOPMENT BANKING
SUBCHAPTER I - COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
Sec. 4709 - Encouragement of private entities
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§4709. Encouragement of private entities
§4709. Encouragement of private entities
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.
(Pub. L. 103–325, title I, §110, Sept. 23, 1994, 108 Stat. 2177.)
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