§ 1435. Obligations as lawful investments; liability of United States for debentures, etc., issued by banks

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1932

   Federal Home Loan Bank Act

   Pub. L. 72–522 § 15 · 47 Stat. 725

   Enacted · 12 U.S.C. § 1435

   July 22, 1932, ch. 522, § 15, 47 Stat. 736

   Source evidence

   Code source credit
   July 22, 1932, ch. 522, § 15, 47 Stat. 736

   Enacted provision · exact public law section
   Sec. 15. Obligations of the Federal Home Loan Banks issued with the approval of the board under this Act shall be lawful investments, Acceptance of, as security, etc. and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof. The Federal reserve banks are authorized to act as depositaries, custodians, and/or fiscal agents for Federal Home Loan Banks in the To plainly state not Federal obligations nor guaranteed by United States. general performance of their powers under this Act. All obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.

2. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title VII § 701(b)(1) · 103 Stat. 183

   Substituted · 12 U.S.C. § 1435

   Pub. L. 101–73 substituted “Board” for “board”

   Source evidence

   Code amendment note
   Pub. L. 101–73 substituted “Board” for “board”.

   Enacted provision · exact public law section
   (1) In general— Except as otherwise specifically provided in 12 USC 1421 et seq. this title, the Federal Home Loan Bank Act is amended by striking “board” (other than in section 7) and “Federal Home Loan Bank Board” each place such terms appear and inserting “Board”.

3. 2008

   Federal Housing Finance Regulatory Reform Act of 2008

   Pub. L. 110–289 div. A title II § 1204(7) · 122 Stat. 2654

   Inserted · 12 U.S.C. § 1435

   Pub. L. 110–289 inserted “or the Director” after “the Board”

   Source evidence

   Code amendment note
   Pub. L. 110–289 inserted “or the Director” after “the Board”.

   Enacted provision · exact public law section
   (7) in section 15 (12 U.S.C. 1435), by inserting “or the Director” after “the Board”;

3 of 3 references resolved to an enrolled provision