Title 12 of the U.S. Code § 1435 - Obligations as lawful investments; liability of United States for debentures, etc., issued by banks
Full text of § 1435 from Title 12 of the United States Code.
§ 1435. Obligations as lawful investments; liability of United States for debentures, etc., issued by banks
Obligations of the Federal Home Loan Banks issued with the approval of the Board or the Director under this chapter 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 or control of the United States or any officer or officers thereof. The Federal reserve banks are authorized to act as depositaries, custodians, and/or fiscal agents for Federal Home Loan Banks in the general performance of their powers under this chapter. All obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.
(July 22, 1932, ch. 522, §15, 47 Stat. 736; Pub. L. 101–73, title VII, §701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, §1204(7), July 30, 2008, 122 Stat. 2786.)
Editorial Notes
Amendments
2008—Pub. L. 110–289 inserted "or the Director" after "the Board".
1989—Pub. L. 101–73 substituted "Board" for "board".
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12 U.S.C. § 1435 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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