Title 12 — Banks and Banking
Chapter 47 — Community Development Banking
§ 4744. Participation agreements
Statutory text
In general
A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund.
Participating financial institutions
Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.
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.
Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title II § 254 · 108 Stat. 2160
Enacted · 12 U.S.C. § 4744
(Pub. L. 103–325, title II, § 254, Sept. 23, 1994, 108 Stat. 2207.)
Source evidence
Code source credit
(Pub. L. 103–325, title II, § 254, Sept. 23, 1994, 108 Stat. 2207.)Enacted provision · exact public law section
SEC. 254. PARTICIPATION AGREEMENTS. (a) In General.— A participating State may enter into a participation agreement with any financial institution determined by the participating State, after consultation with the appropriate Federal banking agency, to have sufficient commercial lending experience and financial and managerial capacity to participate in the Program. The determination by the State shall not be reviewable by the Fund. (b) Participating Financial Institutions.— Upon entering into the participation agreement with the participating State, the financial institution shall become a participating financial institution eligible to enroll loans under the Program.
1 of 1 references resolved to an enrolled provision