2012 US Code
Title 12 - Banks and Banking
Chapter 47 - COMMUNITY DEVELOPMENT BANKING (§§ 4701 - 4750)
Subchapter I - COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS (§§ 4701 - 4719)
Section 4711 - Investment of receipts and proceeds
| Publication Title | United States Code, 2012 Edition, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 47 - COMMUNITY DEVELOPMENT BANKING SUBCHAPTER I - COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS Sec. 4711 - Investment of receipts and proceeds |
| Contains | section 4711 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 103-325, title I, §112, Sept. 23, 1994, 108 Stat. 2177. |
| Statutes at Large Reference | 108 Stat. 2177 |
| Public Law Reference | Public Law 103-325 |
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Any dividends on equity investments and proceeds from the disposition of investments, deposits, or credit union shares that are received by the Fund as a result of assistance provided pursuant to section 4707 or 4712 of this title, and any fees received pursuant to section 4708(f) of this title shall be deposited and accredited to an account of the Fund in the United States Treasury (hereafter in this section referred to as “the account”) established to carry out the purpose of this subchapter.
(b) InvestmentsUpon request of the Administrator, the Secretary of the Treasury shall invest amounts deposited in the account in public debt securities with maturities suitable to the needs of the Fund, as determined by the Administrator, and bearing interest at rates determined by the Secretary of the Treasury, comparable to current market yields on outstanding marketable obligations of the United States of similar maturities.
(c) AvailabilityAmounts deposited into the account and interest earned on such amounts pursuant to this section shall be available to the Fund until expended.
(Pub. L. 103–325, title I, §112, Sept. 23, 1994, 108 Stat. 2177.)
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