[USC02] 12 USC 4709: Encouragement of private entities
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12 USC 4709: Encouragement of private entities Text contains those laws in effect on January 25, 2021
From Title 12-BANKS AND BANKINGCHAPTER 47-COMMUNITY DEVELOPMENT BANKINGSUBCHAPTER I-COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
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§4709. Encouragement of private entities

The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.

( Pub. L. 103–325, title I, §110, Sept. 23, 1994, 108 Stat. 2177 .)