Forms of bank stock and obligations

  1. Law
  2. USC 12
  3. Banks And Banking
  4. FEDERAL HOME LOAN BANKS
  5. Forms of bank stock and obligations

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§1443. Forms of bank stock and obligations

Any stock, debentures, bonds, notes, or other obligations issued under the authority of this chapter may be issued in uncertificated form, utilizing a book entry method, or in certificated form under such rules, regulations, or guidelines as the Director 1 may provide.

(July 22, 1932, ch. 522, §23, 47 Stat. 739 ; Pub. L. 101–73, title VII, §717, Aug. 9, 1989, 103 Stat. 422 ; Pub. L. 110–289, div. A, title II, §1204(8), (12), July 30, 2008, 122 Stat. 2786 .)

Amendments

2008-Pub. L. 110–289, which directed amendment of the Federal Home Loan Bank Act (this chapter) by substituting "the Director" for "the Board" and "Director" for "Federal Housing Finance Board" wherever appearing, was executed to this section by substituting "the Director" for "the Board of Directors of the Federal Housing Finance Board", to reflect the probable intent of Congress.

1989-Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows: "In order that the Federal Home Loan Banks may be supplied with such forms of stock, debentures, and bonds as may be necessary under this chapter, the Secretary of the Treasury is authorized to prepare such forms thereof as shall be suitable and approved by the board, which shall be held in the Treasury subject to delivery, upon order of the board. The engraved plates, dies, and bed pieces executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The board shall reimburse the Secretary of the Treasury for any expense incurred in the preparation, custody, and delivery of such stock, debentures, and bonds."

1 See 2008 Amendment note below.


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