12-U.S.C.-635K

§635K – Apportionment of Losses Incurred On Loans, Guarantees, and Insurance; Reimbursement; Contingent Obligations

Pathway

Title 12 > Chapter 6A > Subchapter II > Section 635k

Details

• Reference: Section 635k
• Legend: §635K – Apportionment of Losses Incurred On Loans, Guarantees, and Insurance; Reimbursement; Contingent Obligations
• USCode Year: 2013

Provision Content

In the event of any losses, as determined by the Board of Directors of the Bank, incurred on loans, guarantees, and insurance extended under this subchapter, the first $100,000,000 of such losses shall be borne by the Bank; the second $100,000,000 of such losses shall be borne by the Secretary of the Treasury; and any losses in excess thereof shall be borne by the Bank. Reimbursement of the Bank by the Secretary of the Treasury of the amount of losses which are to be borne by the Secretary of the Treasury as aforesaid shall be from funds made available pursuant to section 635l of this title. All guarantees and insurance issued by the Bank shall be considered contingent obligations backed by the full faith and credit of the Government of the United States of America.

(Pub. L. 90–390, §2, July 7, 1968, 82 Stat. 297.)

U.S. Encyclopedia of Law Coverage

12-U.S.C.-635I-5 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-635I-5, 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.-635I-3 in the Legal Encyclopedia: Imports

In this entry about 12-U.S.C.-635I-3, find legal reference material, bibliographies and premiere content related to imports in the American Encyclopedia of Law, presenting a comprehensive view of the United States imports-specific issues, written by authorities in the field.

12-U.S.C.-635A-4 in the Legal Encyclopedia: Exports

In this entry about 12-U.S.C.-635A-4, find legal reference material, bibliographies and premiere content related to exports in the American Encyclopedia of Law, presenting a comprehensive view of the United States exports-specific issues, written by authorities in the field.

12-U.S.C.-635I-7 in the Legal Encyclopedia: Export Import Bank of the United States

In this entry about 12-U.S.C.-635I-7, find legal reference material, bibliographies and premiere content related to export import bank of the united states in the American Encyclopedia of Law, presenting a comprehensive view of the United States export import bank of the united states-specific issues, written by authorities in the field.

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