7 USC 2009cc-9 - Financial institution investments

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

§ 2009cc–9.

Financial institution investments

(a)

Investment

(1)

In general

Except as otherwise provided in this section and notwithstanding any other provision of law, the following banks, associations, and institutions are eligible both to establish and invest in any rural business investment company or in any entity established to invest solely in rural business investment companies:

(A)

Any bank or savings association the deposits of which are insured under the Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.), including an investment pool created entirely by such bank or savings association.

(B)

Any Farm Credit System institution described in section 1.2(a) of the Farm Credit Act of 1971 (12 U.S.C. 2002(a)).

(2)

Limitation on requirements

(b)

Limitation

(c)

Limitation on rural business investment companies controlled by Farm Credit System institutions

(Pub. L. 87–128, title III, § 384J, as added Pub. L. 107–171, title VI, § 6029, May 13, 2002, 116 Stat. 397; amended Pub. L. 110–234, title VI, § 6027(d), May 22, 2008, 122 Stat. 1182; Pub. L. 110–246, § 4(a), title VI, § 6027(d), June 18, 2008, 122 Stat. 1664, 1944; Pub. L. 115–334, title VI, § 6426(e), (f), Dec. 20, 2018, 132 Stat. 4771.)

cite as: 7 USC 2009cc-9