7 USC 2009cc-5 - Issuance and guarantee of trust certificates

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

§ 2009cc–5.

Issuance and guarantee of trust certificates

(a)

Issuance

(b)

Guarantee

(1)

In general

(2)

Limitation

(3)

Prepayment or default

(A)

In general

(i)

Authority to prepay

(ii)

Reduction of guarantee

(B)

Interest

(C)

Redemption

(c)

Full faith and credit of the United States

(d)

Subrogation and ownership rights

(1)

Subrogation

(2)

Ownership rights

(e)

Management and administration

(1)

Registration

(2)

Creation of pools

The Secretary may—

(A)

maintain 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 subchapter; and

(B)

issue trust certificates to facilitate the creation of those trusts or pools.

(3)

Fidelity bond or insurance requirement

(4)

Regulation of brokers and dealers

(5)

Electronic registration

(Pub. L. 87–128, title III, § 384F, as added Pub. L. 107–171, title VI, § 6029, May 13, 2002, 116 Stat. 393; amended Pub. L. 110–234, title VI, § 6027(a), May 22, 2008, 122 Stat. 1182; Pub. L. 110–246, § 4(a), title VI, § 6027(a), June 18, 2008, 122 Stat. 1664, 1943.)

cite as: 7 USC 2009cc-5