12 U.S.C. § 4709
Encouragement of private entities
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 4709, Encouragement of private entities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438830
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Full text
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.
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.
- Riegle Community Development and Regulatory Improvement Act of 1994House: 410–12Senate: no recorded tally