15 USC 689e - Issuance and guarantee of trust certificates

U.S Code last checked for updates: Nov 22, 2024

§ 689e.

Issuance and guarantee of trust certificates

(a)

Issuance

(b)

Guarantee

(1)

In general

(2)

Limitation

(3)

Prepayment or default

(c)

Full faith and credit of the United States

(d)

Fees

(e)

Subrogation and ownership rights

(1)

Subrogation

(2)

Ownership rights

(f)

Management and administration

(1)

Registration

(2)

Contracting of functions

(A)

In general

The Administrator may contract with an agent or agents to carry out on behalf of the Administrator the pooling and the central registration functions provided for in this section including, notwithstanding any other provision of law—

(i)

maintenance, on behalf of and under the direction of the Administrator, of such commercial bank accounts or investments in obligations of the United States as may be necessary to facilitate the creation of trusts or pools backed by debentures guaranteed under this part; and

(ii)

the issuance of trust certificates to facilitate the creation of such trusts or pools.

(B)

Fidelity bond or insurance requirement

(3)

Regulation of brokers and dealers

(4)

Electronic registration

(Pub. L. 85–699, title III, § 356, as added Pub. L. 106–554, § 1(a)(8) [§ 1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A–658.)

cite as: 15 USC 689e