2014 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 6A - Export-Import Bank of the United States (Sections 635 - 635t)
Subchapter II - Export Financing (Sections 635j - 635n)
Sec. 635k - Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations
| Publication Title | United States Code, 2012 Edition, Supplement 2, 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 6A - EXPORT-IMPORT BANK OF THE UNITED STATES SUBCHAPTER II - EXPORT FINANCING Sec. 635k - Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations |
| Contains | section 635k |
| Date | 2014 |
| Laws In Effect As Of Date | January 5, 2015 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 90-390, §2, July 7, 1968, 82 Stat. 297. |
| Statutes at Large Reference | 82 Stat. 297 |
| Public and Private Law | Public Law 90-390 |
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In the event of any losses, as determined by the Board of Directors of the Bank, incurred on loans, guarantees, and insurance extended under this subchapter, the first $100,000,000 of such losses shall be borne by the Bank; the second $100,000,000 of such losses shall be borne by the Secretary of the Treasury; and any losses in excess thereof shall be borne by the Bank. Reimbursement of the Bank by the Secretary of the Treasury of the amount of losses which are to be borne by the Secretary of the Treasury as aforesaid shall be from funds made available pursuant to section 635l of this title. All guarantees and insurance issued by the Bank shall be considered contingent obligations backed by the full faith and credit of the Government of the United States of America.
(Pub. L. 90–390, §2, July 7, 1968, 82 Stat. 297.)
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