Us Code § 1723c - Obligations, participations, or other instruments as lawful investments; acceptance as security; exempt securities
Full text of Us Code United States Code § 1723c — Obligations, participations, or other instruments as lawful investments; acceptance as security; exempt securities, with citation guidance and answers to common questions.
§ 1723c. Obligations, participations, or other instruments as lawful investments; acceptance as security; exempt securities
All obligations, participations, or other instruments issued by either of the bodies corporate named in section 1717(a)(2) of this title shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority and control of the United States or any officer or officers thereof. All stock, obligations, securities, participations, or other instruments issued pursuant to this subchapter shall, to the same extent as securities which are direct obligations of or obligations guaranteed as to principal or interest by the United States, be deemed to be exempt securities within the meaning of laws administered by the Securities and Exchange Commission.
(June 27, 1934, ch. 847, title III, §311, as added Aug. 2, 1954, ch. 649, title II, §201, 68 Stat. 622; amended Pub. L. 88–560, title VII, §701(b)(1), Sept. 2, 1964, 78 Stat. 800; Pub. L. 90–448, title VIII, §802(ff), Aug. 1, 1968, 82 Stat. 542; Pub. L. 98–440, title II, §213(b), Oct. 3, 1984, 98 Stat. 1698; Pub. L. 102–550, title XIII, §1381(r), Oct. 28, 1992, 106 Stat. 4001.)
Editorial Notes
Amendments
1992—Pub. L. 102–550 struck out before period at end "; but all such issuances by the Association and all issuances of stock, and debt obligations convertible into stock, by the corporation shall be made only with the approval of the Secretary of Housing and Urban Development".
1984—Pub. L. 98–440 inserted "by the Association and all issuances of stock, and debt obligations convertible into stock, by the corporation".
1968—Pub. L. 90–448 substituted "either of the bodies corporate named in section 1717(a)(2) of this title" for "the Association," and inserted provisions directing that all stock, obligations, securities, participations, or other instruments issued pursuant to this subchapter be deemed to be exempt securities, and requiring approval of the Secretary for all issuances.
1964—Pub. L. 88–560 inserted ", participations, or other instruments" after "obligations".
Statutory Notes and Related Subsidiaries
Effective Date of 1968 Amendment
For effective date of amendment by title VIII of Pub. L. 90–448, see section 808 of Pub. L. 90–448, set out as an Effective Date note under section 1716b of this title.
About This Section
12 U.S.C. § 1723c is part of Title 12 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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