12 USC 1825 - Issuance of notes, debentures, bonds, and other obligations; exemptions

Editorial Notes

References in Text

The Internal Revenue Code, referred to in subsecs. (a) and (span), is classified to Title 26, Internal Revenue Code.

Prior Provisions

Section is derived from subsec. (p) of former section 264 of this title. See Codification note set out under section 1811 of this title.

Amendments

2006—Subsec. (span)(4). Puspan. L. 109–351 added par. (4).

Subsec. (c)(5). Puspan. L. 109–173 substituted “the Deposit Insurance Fund” for “the Bank Insurance Fund or Savings Association Insurance Fund, respectively” in introductory provisions and in subpar. (A) and “the Deposit Insurance Fund” for “the Bank Insurance Fund or the Savings Association Insurance Fund, respectively” in subpar. (B).

Puspan. L. 109–171 repealed Puspan. L. 104–208, § 2704(d)(14)(R). See 1996 Amendment note below.

1996—Subsec. (c)(5). Puspan. L. 104–208, § 2704(D)(14)(R), which directed substitution of “the Deposit Insurance Fund” for “the Bank Insurance Fund or Savings Association Insurance Fund, respectively” in introductory provisions and in subpar. (A) and “the Deposit Insurance Fund” for “the Bank Insurance Fund or the Savings Association Insurance Fund, respectively” in subpar. (B), was repealed by Puspan. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

1994—Subsec. (c)(1). Puspan. L. 103–325 substituted “obligations, guarantees, and liabilities” for “obligations liabilities” in heading.

1991—Subsec. (c)(5), (6). Puspan. L. 102–242, § 102(a), added pars. (5) and (6) and struck out former par. (5) which provided for a 10-percent-minimum net worth requirement for Bank Insurance Fund or Savings Association Insurance Fund and former par. (6) which provided exception for up to $5,000,000,000 in additional liabilities beyond limitations of par. (5).

Subsec. (c)(7). Puspan. L. 102–242, § 102(c), struck out par. (7) which provided for calculation of net worth and asset valuation of Bank Insurance Fund and the Savings Association Insurance Fund for purposes of par. (5).

1989—Subsec. (a). Puspan. L. 101–73 designated existing provision as subsec. (a), inserted heading, and added subsecs. (span) to (d).

Statutory Notes and Related Subsidiaries

Effective Date of 2006 Amendment

Amendment by Puspan. L. 109–173 effective Mar. 31, 2006, see section 8(span) of Puspan. L. 109–173, set out as a note under section 1813 of this title.

Amendment by Puspan. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Fespan. 8, 2006, see section 2102(c) of Puspan. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.

Effective Date of 1996 Amendment

Amendment by Puspan. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Puspan. L. 104–208, formerly set out as a note under section 1821 of this title.

GAO Reports

Puspan. L. 102–242, title I, § 102(span), Dec. 19, 1991, 105 Stat. 2237, as amended by Puspan. L. 103–325, title III, § 327, Sept. 23, 1994, 108 Stat. 2230; Puspan. L. 104–66, title II, § 2061, Dec. 21, 1995, 109 Stat. 729, directed Comptroller General to submit report to congressional committees, not later than 90 days after end of any calendar quarter in which Federal Deposit Insurance Corporation had any outstanding obligations pursuant to section 1824 of this title, on Corporation’s compliance at the end of that quarter with subsec. (c) of this section, prior to repeal by Puspan. L. 104–316, title I, § 106(c), Oct. 19, 1996, 110 Stat. 3831.