12-U.S.C.-1444
§1444 – Eligibility to Membership In Banks
Pathway
Title 12 > Chapter 11 > Section 1444
Details
- Reference: Section 1444
- Legend: §1444 – Eligibility to Membership In Banks
- USCode Year: 2013
Provision Content
(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.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1438A in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-1438A, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-1430B in the Legal Encyclopedia: Loans
In this entry about 12-U.S.C.-1430B, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.
12-U.S.C.-1444 in the Legal Encyclopedia: Housing
In this entry about 12-U.S.C.-1444, find legal reference material, bibliographies and premiere content related to housing in the American Encyclopedia of Law, presenting a comprehensive view of the United States housing-specific issues, written by authorities in the field.
12-U.S.C.-1434 in the Legal Encyclopedia: Banks
In this entry about 12-U.S.C.-1434, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.
Leave a Reply