Title 12 — Banks and Banking
Chapter 47 — Community Development Banking
§ 4709. Encouragement of private entities
Statutory text
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.
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.
Community Development Banking and Financial Institutions Act of 1994
Pub. L. 103–325 title I § 110 · 108 Stat. 2160
Enacted · 12 U.S.C. § 4709
(Pub. L. 103–325, title I, § 110, Sept. 23, 1994, 108 Stat. 2177.)
Source evidence
Code source credit
(Pub. L. 103–325, title I, § 110, Sept. 23, 1994, 108 Stat. 2177.)Enacted provision · exact public law section
SEC. 110. 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 subtitle. 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.
1 of 1 references resolved to an enrolled provision