§ 4709. — Encouragement of private entities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4709]
TITLE 12--BANKS AND BANKING
CHAPTER 47--COMMUNITY DEVELOPMENT BANKING
SUBCHAPTER I--COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
Sec. 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, Sec. 110, Sept. 23, 1994, 108 Stat. 2177.)
