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The law › Title 12, Banks and Banking › Chapter 11

12 U.S.C. 1424: Eligibility for membership

Created in 1989 by Public Law 101-73. Changed by 3 later laws. No bill we track in this Congress changes it.

1 other section of the Code cite this one, including 12 U.S.C. 1431.

1 part of federal rules cite it as their authority, written by Federal Housing Finance Agency (1).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2015

    • Pub. L. 114–94 added par. (5). (Fixing America's Surface Transportation Act" or the "FAST Act) Law text · (a)

    2008

    • Pub. L. 110–289, §1206(1), which directed insertion of "community development financial institution," after "savings bank,", was executed by making the insertion after "savings bank," the first time appearing. (Housing and Economic Recovery Act of 2008) Law text · (a)
    • Pub. L. 110–289, §1206(2), which directed insertion of "or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994." after "United S… (Housing and Economic Recovery Act of 2008) Law text · (a)
    • Pub. L. 110–289, §1204(8), substituted "the Director" for "the Board" wherever appearing. (Housing and Economic Recovery Act of 2008) Law text · (a), (3), (b), (c)

    1999

    • Pub. L. 106–102 inserted "(other than a community financial institution)" after "institution" in par. (2)(A), designated concluding provisions of par. (2) as par. (3), inserted heading and substituted "paragraph (2)" for "preceding sentence", and added par. (4). (Gramm-Leach-Bliley Act) Law text · (a)

    1989

    • Pub. L. 101–73, §704(a), amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: "Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, or savings bank shall be eligible to become a member of… · (a)
    • Pub. L. 101–73, §710(b)(1), struck out "or a nonmember borrower" after "eligible to become a member". · (b)
    • Pub. L. 101–73, §701(b)(1), (3)(A), substituted "Board" for "board". · (b)
    • Pub. L. 101–73, §701(b)(1), (3)(A), substituted "Board" for "board". · (c)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.