12 USC Ch. 31: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 31-NATIONAL CONSUMER COOPERATIVE BANK
CHAPTER 31-NATIONAL CONSUMER COOPERATIVE BANK
Sec.
3001.
Congressional statement of findings and purpose.
SUBCHAPTER I-ESTABLISHMENT AND OPERATION
3011.
Creation and charter; principal office; venue; purposes.
3012.
General corporate powers.
3013.
Board of Directors.
(a)
Composition; term of office; removal by President.
(b)
Appointment by President; election by stockholders.
(c)
Resignations; continuances; completion of term; committee representation.
(d)
Elections; nominations by cooperative classes; vacancies filled; representation requirements.
(e)
Terms; officer of Bank not to serve as director; notice requirements of Bank and voting shareholders.
(f)
Annual election of chairman and vice chairman and selection of secretary; eligibility; establishment of Bank policies and direction of management.
(g)
Conduct of meetings; rules governing.
(h)
Compensation and expenses.
3014.
Capitalization.
(a)
Subscriptions for capital; authorization of appropriations.
(b)
Classes of stock; general requirements respecting rights, powers, privileges, and preferences.
(c)
Class A notes; interest payments; redemption, etc.
(d)
Class B stock; ownership requirements, etc.
(e)
Class C stock; purchase, dividends, etc.
(f)
Nonvoting stock of other classifications and priorities; issuance, etc.
(g)
Voting requirements of bylaws.
(h)
Acceptance by Bank of nonreturnable capital contributions.
(i)
Patronage refunds.
3015.
Eligibility of cooperatives.
(a)
General requirements.
(b)
Primary producers.
(c)
"Net savings" defined.
(d)
Cooperatives eligible for other Federal credit assistance.
(e)
Credit unions eligible for technical assistance from Office of Self-Help Development and Technical Assistance.
3016.
Annual meetings; notice, agenda, etc.
3017.
Bonds, debentures, notes and other evidences of indebtedness.
(a)
Authorization for public or private sale; time of issuance, interest rates, and terms and conditions; outstanding amount.
(b)
Purchase and sale by Bank; methods of sale and delivery.
(c)
Obligations as not guaranteed by United States and not to constitute a debt or obligation of United States.
3017a.
Class A notes as paid-in capital of the Bank.
3018.
Loans.
(a)
General requirements for loans and commitments for loans; limitations; allocation of assistance for low-income persons; criteria and factors for making loans, etc.; publication.
(b)
Repayment requirements; criteria for terms, rates, and charges; advancement of loan proceeds.
(c)
Guarantees by Bank; requirements; charges.
(d)
Assignment of guaranteed loans; contestability of guarantee; criteria for purchase by Bank of guaranteed loan in lieu of requiring service by lender.
(e)
Aggregate amount of commitments to make or guarantee loans.
3019.
Taxation by State, county, etc., taxing authority; Federal tax status.
3020.
Quarters and space for principal and other offices.
3021.
Annual report to Congress; contents.
3022.
Authorization of additional appropriations; restrictions on use.
3023.
Appeal procedures applicable upon denial or restriction of application for assistance.
3024.
Conflict of interest rules; adoption and publication; requirements.
3025.
Examination and audit.
3026.
Acceleration of the Final Government Equity Redemption Date.
SUBCHAPTER II-OFFICE OF SELF-HELP DEVELOPMENT AND TECHNICAL ASSISTANCE
3041.
Establishment; appointment, etc., of Director.
3042.
Authorization of appropriations for advances; deposits into separate Account in Bank; availability of amounts.
3043.
Advances.
(a)
Capital investment advances; criteria.
(b)
Interest supplement advances; criteria; amount.
(c)
Interest rate applicable to advances.
3044.
Services and information for organization, financing, and management of cooperatives; availability; agreements for development and dissemination; funding.
3045.
Investigations and surveys respecting new services, etc., by cooperative not-for-profit organizations.
3046.
Financial analysis and market surveys at request of eligible cooperative.
3047.
Programs for training directors and staff of eligible cooperatives, and public education; development and availability; scope and implementation.
3048.
Cooperation with Federal agencies offering programs for consumer cooperatives in disseminating information.
3049.
Authorization of appropriations for administration; availability of amounts.
3050.
Fees for providing technical assistance services; waiver; accounting and availability.
3051.
Nonprofit corporation.
(a)
Office of Self-Help Development and Technical Assistance abolished; transfer of assets, etc.
(b)
Establishment; Board of Directors; functions, etc.
(c)
Treatment for tax purposes.
(d)
Contributions from the Bank.
(e)
Conflict of interest rules.