2016 US Code
Title 12 - Banks and Banking
Chapter 11 - Federal Home Loan Banks
Sec. 1444 - Eligibility to membership in banks
| 12 U.S.C. § 1444 (2016) |
| §1444. Eligibility to membership in banks |
|
(a) Any organization organized under the laws of any State and subject to inspection and regulation under the banking or similar laws of such State shall be eligible to become a member under this chapter if— (1) it is organized solely for the purpose of supplying credit to its members; (2) its membership (A) is confined exclusively to building and loan associations, savings and loan associations, cooperative banks, and homestead associations; or (B) is confined exclusively to savings banks; and (3) of the institutions to which its membership is confined which are organized within the State, its membership includes a majority of such institutions. (b) In all respects, but subject to such additional rules and regulations as the Director may provide, any such organization shall be a member for the purposes of this chapter. |
|
(July 22, 1932, ch. 522, §24, 47 Stat. 739; Pub. L. 101–73, title VII, §701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, §1204(8), July 30, 2008, 122 Stat. 2786.) |
|
AMENDMENTS
2008—Subsec. (b). Pub. L. 110–289 substituted "the Director" for "the Board". 1989—Subsec. (b). Pub. L. 101–73 substituted "Board" for "board". |
| United States Code, 2012 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 11 - FEDERAL HOME LOAN BANKS Sec. 1444 - Eligibility to membership in banks |
| section 1444 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 47 Stat. 739 103 Stat. 412 122 Stat. 2786 |
| Public Law 101-73, Public Law 110-289 |
