§ 635f. — Termination date of Bank's functions; exceptions; liquidation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC635f]
TITLE 12--BANKS AND BANKING
CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
SUBCHAPTER I--GENERAL PROVISIONS
Sec. 635f. Termination date of Bank's functions; exceptions;
liquidation
Export-Import Bank of the United States shall continue to exercise
its functions in connection with and in furtherance of its objects and
purposes until the close of business on September 30, 2006, but the
provisions of this section shall not be construed as preventing the bank
from acquiring obligations prior to such date which mature subsequent to
such date or from assuming prior to such date liability as guarantor,
endorser, or acceptor of obligations which mature subsequent to such
date or from issuing, either prior or subsequent to such date, for
purchase by the Secretary of the Treasury or any other purchasers, its
notes, debentures, bonds, or other obligations which mature subsequent
to such date or from continuing as a corporate agency of the United
States and exercising any of its functions subsequent to such date for
purposes of orderly liquidation, including the administration of its
assets and the collection of any obligations held by the bank.
(July 31, 1945, ch. 341, Sec. 7, formerly Sec. 8, 59 Stat. 529; June 9,
1947, ch. 101, Sec. 3, 61 Stat. 131; Oct. 3, 1951, ch. 445, Sec. 1(c),
65 Stat. 367; Pub. L. 85-55, June 17, 1957, 71 Stat. 82; Pub. L. 88-101,
Sec. 2, Aug. 20, 1963, 77 Stat. 128; Pub. L. 90-267, Sec. 1(a), (f),
Mar. 13, 1968, 82 Stat. 47, 49; Pub. L. 92-126, Sec. 1(b)(4), Aug. 17,
1971, 85 Stat. 345; Pub. L. 93-331, July 4, 1974, 88 Stat. 289; Pub. L.
93-374, Aug. 14, 1974, 88 Stat. 445; Pub. L. 93-425, Sept. 30, 1974, 88
Stat. 1166; Pub. L. 93-450, Oct. 18, 1974, 88 Stat. 1368; Pub. L. 93-
646, Sec. 9, Jan. 4, 1975, 88 Stat. 2336; Pub. L. 95-143, Sec. 4, Oct.
26, 1977, 91 Stat. 1211; Pub. L. 95-407, Sept. 30, 1978, 92 Stat. 882;
Pub. L. 95-630, title XIX, Sec. 1906, Nov. 10, 1978, 92 Stat. 3725; Pub.
L. 98-109, Sec. 6, Oct. 1, 1983, 97 Stat. 746; Pub. L. 98-143, Nov. 1,
1983, 97 Stat. 916; Pub. L. 98-181, title VI, Sec. 611, Nov. 30, 1983,
97 Stat. 1254; Pub. L. 99-472, Sec. 14, Oct. 15, 1986, 100 Stat. 1204;
renumbered Sec. 7 and amended Pub. L. 102-429, title I, Secs. 102,
121(c)(2), Oct. 21, 1992, 106 Stat. 2187, 2199; Pub. L. 105-46,
Sec. 122, Sept. 30, 1997, 111 Stat. 1158; Pub. L. 105-121, Sec. 2(a),
Nov. 26, 1997, 111 Stat. 2528; Pub. L. 107-189, Sec. 3, June 14, 2002,
116 Stat. 699.)
Prior Provisions
A prior section 7 of act July 31, 1945, ch. 341, was renumbered
section 6 and is classified to section 635e of this title.
Amendments
2002--Pub. L. 107-189 substituted ``September 30, 2006'' for
``September 30, 2001''.
1997--Pub. L. 105-121 substituted ``September 30, 2001'' for
``September 30, October 23, 1997''.
Pub. L. 105-46 substituted ``October 23, 1997'' for ``1997''.
1992--Pub. L. 102-429, Sec. 102, substituted ``1997'' for ``1992''.
1986--Pub. L. 99-472 substituted ``September 30, 1992'' for
``September 30, 1986''.
1983--Pub. L. 98-181 substituted ``September 30, 1986'' for
``November 18, 1983''.
Pub. L. 98-143 substituted ``November 18, 1983'' for ``October 31,
1983''.
Pub. L. 98-109 substituted ``October 31, 1983'' for ``September 30,
1983''.
1978--Pub. L. 95-630 substituted ``September 30, 1983'' for
``December 31, 1978''.
Pub. L. 95-407 substituted ``December 31, 1978'' for ``September 30,
1978''.
1977--Pub. L. 95-143 substituted ``September 30, 1978'' for ``June
30, 1978''.
1975--Pub. L. 93-646 substituted ``June 30, 1978'' for ``November
30, 1974''.
1974--Pub. L. 93-450 substituted ``November 30, 1974'' for ``October
15, 1974''.
Pub. L. 93-425 substituted ``October 15, 1974'' for ``September 30,
1974''.
Pub. L. 93-374 substituted ``September 30, 1974'' for ``July 30,
1974''.
Pub. L. 93-331 substituted ``July 30, 1974'' for ``June 30, 1974''.
1971--Pub. L. 92-126 substituted ``June 30, 1974'' for ``June 30,
1973'' and ``Secretary of the Treasury or any other purchasers'' for
``Secretary of the Treasury''.
1968--Pub. L. 90-267 changed name of ``Export-Import Bank of
Washington'' to ``Export-Import Bank of the United States'' and
substituted ``June 30, 1973'' for ``June 30, 1968''.
1963--Pub. L. 88-101 substituted ``June 30, 1968'' for ``June 30,
1963''.
1957--Pub. L. 85-55 substituted ``June 30, 1963'' for ``June 30,
1958''.
1951--Act Oct. 3, 1951, substituted ``June 30, 1958'' for ``June 30,
1953''.
1947--Act June 9, 1947, struck out former section and inserted
present section to provide for the termination of the Bank as of June
30, 1953, and its orderly liquidation thereafter.
Effective Date of 1997 Amendment
Section 2(b) of Pub. L. 105-121 provided that: ``The amendment made
by this section [amending this section] shall take effect on September
30, 1997.''
Effective Date of 1978 Amendment
Amendment by Pub. L. 95-630 effective Nov. 10, 1978, see section
1917 of Pub. L. 95-630, set out as a note under section 635 of this
title.
Continuation of Bank Functions
Provisions extending the date that the Export-Import Bank of the
United States could continue to exercise its functions in connection
with and in furtherance of its objects and purposes notwithstanding the
dates specified in this section and section 1(c) of Pub. L. 103-428, set
out as an Effective and Termination Dates of 1994 Amendments note under
section 635 of this title, were contained in the following acts:
Pub. L. 107-186, Sec. 1, May 30, 2002, 116 Stat. 589, extending the
date to June 14, 2002.
Pub. L. 107-168, Sec. 1, May 1, 2002, 116 Stat. 131, extending the
date to May 31, 2002.
Pub. L. 107-156, Sec. 1, Mar. 31, 2002, 116 Stat. 117, extending the
date to Apr. 30, 2002.
Pub. L. 107-115, title V, Sec. 588, Jan. 10, 2002, 115 Stat. 2174,
extending the date to Mar. 31, 2002.
Pub. L. 107-44, Sec. 115, as added by Pub. L. 107-48, Oct. 12, 2001,
115 Stat. 261, extending the date to Jan. 10, 2002.
Pub. L. 107-44, Sec. 115, Sept. 28, 2001, 115 Stat. 256, extending
the date to Oct. 16, 2001, prior to repeal by Pub. L. 107-48, Oct. 12,
2001, 115 Stat. 261.
Termination date for Bank's functions was temporarily extended until
the following dates by the acts listed below:
Until Nov. 7, 1997, by Pub. L. 105-64, Oct. 23, 1997, 111 Stat.
1343.
Until Nov. 9, 1997, by Pub. L. 105-68, Nov. 7, 1997, 111 Stat. 1453.
Until Nov. 10, 1997, by Pub. L. 105-69, Nov. 9, 1997, 111 Stat.
1454.
Until Nov. 14, 1997, by Pub. L. 105-71, Nov. 10, 1997, 111 Stat.
1456.
Until Nov. 26, 1997, by Pub. L. 105-84, Nov. 14, 1997, 111 Stat.
1628.
Financial Assistance to the Union of Soviet Socialist Republics
Section 1 of Pub. L. 93-450 provided in part that the Bank shall not
authorize any financial assistance to the Union of Soviet Socialist
Republics during the life of Pub. L. 93-450, which extended the
termination date from Oct. 15, 1974, to Nov. 30, 1974.
