§ 1772c–1 - Community development revolving loan fund for credit unions

CHAPTER 14— FEDERAL CREDIT UNIONS › SUBCHAPTER I— GENERAL PROVISIONS

(a) The Board may exercise the authority granted to it by the Community Development Credit Union Revolving Loan Fund Transfer Act, including any additional appropriation made or earnings accrued, subject only to this section and to regulations prescribed by the Board.

(b) The Board may invest any idle Fund moneys in United States Treasury securities. Any interest accrued on such securities shall become a part of the Fund.

(c) The Board may require that any loans made from the Fund be matched by increased shares in the borrower credit union.

(d) Interest earned by the Fund may be allocated by the Board for technical assistance to community development credit unions, subject to an appropriations Act.

(e) As used in this section, the term “Fund” means the Community Development Credit Union Revolving Loan Fund.

Notes

Editorial Notes

References in Text

The Community Development Credit Union Revolving Loan Fund Transfer Act, referred to in subsec. (a), is Pub. L. 99–609, Nov. 6, 1986, 100 Stat. 3475, which is set out as a note under section 9822 of Title 42, The Public Health and Welfare.