§ 4709 - Encouragement of private entities

CHAPTER 47— COMMUNITY DEVELOPMENT BANKING › SUBCHAPTER I— COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS

The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.