Source: https://www.law.cornell.edu/uscode/text/12/1783?quicktabs_8=1
Timestamp: 2016-02-09 18:20:51
Document Index: 691544168

Matched Legal Cases: ['§ 1783', '§ 1783', '§ 1783', '§\u202f203', '§\u202f1', '§\u202f2', '§\u202f502', '§\u202f530', '§\u202f2811', '§\u202f204', '§\u202f4', '§\u202f204', '§\u202f204']

12 U.S. Code § 1783 - National Credit Union Share Insurance Fund | US Law | LII / Legal Information Institute
U.S. Code › Title 12 › Chapter 14 › Subchapter II › § 1783 12 U.S. Code § 1783 - National Credit Union Share Insurance Fund
If, in the judgment of the Board, a loan to the insurance fund, or to the stabilization fund described in section 1790e of this title, is required at any time for purposes of this subchapter,[1] the Secretary of the Treasury shall make the loan, but loans under this paragraph shall not exceed in the aggregate $6,000,000,000 outstanding at any one time. Except as otherwise provided in this subsection, section 1790e of this title, and in subsection (e) of this section, each loan under this paragraph shall be made on such terms as may be fixed by agreement between the Board and the Secretary of the Treasury.
(A)Recommendations for increase.—
During the period beginning on May 20, 2009, and ending on December 31, 2010, if, upon the written recommendation of the Board (upon a vote of not less than two-thirds of the members of the Board) and the Board of Governors of the Federal Reserve System (upon a vote of not less than two-thirds of the members of such Board), the Secretary of the Treasury (in consultation with the President) determines that additional amounts above the $6,000,000,000 amount specified in paragraph (1) are necessary, such amount shall be increased to the amount so determined to be necessary, not to exceed $30,000,000,000.
(B)Report required.—
(June 26, 1934, ch. 750, title II, § 203, as added Pub. L. 91–468, § 1(3), Oct. 19, 1970, 84 Stat. 999; amended Pub. L. 94–273, § 2(4), Apr. 21, 1976, 90 Stat. 375; Pub. L. 95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681; Pub. L. 97–320, title V, § 530, Oct. 15, 1982, 96 Stat. 1535; Pub. L. 98–369, div. B, title VIII, § 2811, July 18, 1984, 98 Stat. 1206; Pub. L. 111–22, div. A, title II, § 204(c)(2), (3), May 20, 2009, 123 Stat. 1650.)
In subsec. (d)(3), “chapter 31 of title 31” substituted for “the Second Liberty Bond Act, as amended” on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.
2009—Subsec. (d)(1). Pub. L. 111–22, § 204(c)(2), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “If, in the judgment of the Board, a loan to the fund is required at any time for carrying out the purposes of this subchapter, the Secretary of the Treasury shall make the loan, but loans under this paragraph shall not exceed in the aggregate $100,000,000 outstanding at any one time. Except as otherwise provided in this subsection and in subsection (e) of this section, each loan under this paragraph shall be made on such terms as may be fixed by agreement between the Board and the Secretary of the Treasury.”
Subsec. (d)(4). Pub. L. 111–22, § 204(c)(3), added par. (4).
1984—Subsec. (b). Pub. L. 98–369 inserted “deposits and” and provisions relating to annual reporting requirements by the Board.
1978—Pub. L. 95–630 substituted “Board” for “Administrator” wherever appearing and “it” and “its” for “he” and “his”, respectively, where appropriate.
1976—Subsec. (d)(2). Pub. L. 94–273 substituted “September” for “June” wherever appearing.