12 U.S.C. § 3051
Nonprofit corporation
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 3051, Nonprofit corporation, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438472
- Permanent ID
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Full text
Notwithstanding the laws of the District of Columbia, the Board of Directors of such nonprofit corporation shall—
Such nonprofit corporation shall only perform—
Notwithstanding any other provision of law—
The Board of Directors of the Bank may make contributions to the nonprofit corporation in such amounts as the Board of Directors of the Bank deems appropriate, except that—
Notwithstanding the laws of the District of Columbia, the Board of Directors of such nonprofit corporation shall adopt and publish its own conflict of interest rules which shall be no less stringent in effect than the conflict of interest provisions adopted by the Board of Directors of the Bank pursuant to section 3024 of this title.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- National Consumer Cooperative Bank ActHouse: no recorded tallySenate: no recorded tally
- Omnibus Budget Reconciliation Act of 1981House: no recorded tallySenate: no recorded tally
- Tax Reform Act of 1986House: no recorded tallySenate: no recorded tally