WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 14

12 U.S.C. 1782: Administration of insurance fund

Created in 1970 by Public Law 91-468. Changed by 12 later laws. No bill we track in this Congress changes it.

5 other sections of the Code cite this one, including 12 U.S.C. 461, 12 U.S.C. 1783, 12 U.S.C. 1786, 12 U.S.C. 1790e, 12 U.S.C. 5390.

6 parts of federal rules cite it as their authority, written by National Credit Union Administration (6).

This Congress

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

    How it got here

    2011

    • Pub. L. 111–382 substituted "which shall be calculated using the financial statements of the Fund alone, without any consolidation or combination with the financial statements of any other fund or entity," for "when applied to the Fund," in introductory provisions. Law text · (h)

    2009

    • Pub. L. 111–22, §204(e), added subpar. (D). Law text · (c)
    • Pub. L. 111–22, §204(f)(2), inserted ", subject to the requirements of section 1790e(e) of this title," after "The Board shall" in introductory provisions. Law text · (c)

    2006

    • Pub. L. 109–351, §707(b), added par. (8). (Financial Services Regulatory Relief Act of 2006) Law text · (a)
    • Pub. L. 109–351, §726(12), substituted "section 1787(k)(1) of this title" for "section 1787(c)(1) of this title". (Financial Services Regulatory Relief Act of 2006) Law text · (h)

    1998

    • Pub. L. 105–219, §201, substituted "subparagraph (A) or (D)" for "subparagraph (A)" in subpar. (B) and added subpars. (C) and (D). (Credit Union Membership Access Act) Law text · (a)
    • Pub. L. 105–219, §302(a)(1), added subsec. (b) and struck out former subsec. (b) which read as follows: (Credit Union Membership Access Act) Law text · (b)
    • Pub. L. 105–219, §302(a)(2), added cl. (iii) and struck out former cl. (iii) which read as follows: "The amount of each insured credit union's deposit shall be adjusted annually, in accordance with procedures determined by the Board, to reflect changes in the credit union's … (Credit Union Membership Access Act) Law text · (c)
    • Pub. L. 105–219, §302(a)(3), added pars. (2) and (3) and struck out former pars. (2) and (3) which read as follows: (Credit Union Membership Access Act) Law text · (c), (3)
    • Pub. L. 105–219, §302(a)(4), added par. (4). (Credit Union Membership Access Act) Law text · (c)
    • Pub. L. 105–219, §302(a)(5), added subsec. (h) and struck out former subsec. (h) which read as follows: "For the purposes of this section— (Credit Union Membership Access Act) Law text · (h)

    1992

    • Pub. L. 102–550, in subpar. (C), substituted "insured credit union" for "insured depository institution", struck out "or" after "subsection (b)(1)", and substituted "Board" for "Corporation" and "assets of the credit union" for "assets of the institution", in subpar. (D), substitute… · (d)

    1991

    • Pub. L. 102–242 amended par. (2) generally. Prior to amendment, par. (2) read as follows: "Any insured credit union which willfully fails or refuses to file any certified statement or to pay its deposit or any premium charge for insurance required under this subchapter shall be subj… · (d)

    1989

    • Pub. L. 101–73, §911(f), inserted provisions relating to penalties and agency hearings and struck out at end: "Every insured credit union which willfully fails to make or publish any such report within ten days shall be subject to a penalty of not more than $100 for each day of such… · (a)
    • Pub. L. 101–73, §919, added par. (6). · (a)
    • Pub. L. 101–73, §931(b), added par. (7). · (a)

    1984

    • Pub. L. 98–369, §2802, in amending subsec. (b) generally, revised existing provisions into numbered pars. (1) to (3) and in par. (1) substituted "For each insurance year, each insured credit union which became insured prior to the beginning of that year shall file with the Board, at su… · (b)
    • Pub. L. 98–369, §2803(6), added par. (1). Former par. (1) redesignated (2). · (c)
    • Pub. L. 98–369, §2803(3)–(5), substituted "Each insured credit union, at such time as the Board prescribes" for "Except as provided in paragraph (2) of this subsection, each insured credit union, on or before January 31 of each insurance year" and "insured shares" for "member accoun… · (c)
    • Pub. L. 98–369, §2803(1), (2), redesignated par. (1) as (2). Former par. (2), which related to payment of a premium charge for insurance by each credit union in existence prior to Oct. 19, 1970, and insured under this subchapter after January 1 of any insurance, was struck out. · (c)
    • Pub. L. 98–369, §2804, amended par. (3) generally. Prior to amendment, par. (3) read as follows: "When any loans to the fund from the Federal Government and the interest thereon have been repaid and the amount in the fund equals or exceeds the normal operating level, the Board may r… · (c)
    • Pub. L. 98–369, §2805, struck out par. (4) which provided that "If in any year expenditures from the fund exceed the income of the fund, the Board may require each insured credit union to pay to the fund for such year, in addition to the regular premium charge for insurance payable … · (c)
    • Pub. L. 98–369, §2806(a)(1), inserted "its deposit or" wherever appearing. · (d), (2)
    • Pub. L. 98–369, §2806(a), inserted "its deposit or" wherever appearing and substituted "insured shares" for "member accounts". · (d)
    • Pub. L. 98–369, §2806(a)(1), (b)(1), (2), inserted "its deposit or" and "deposit or" wherever appearing. · (e)
    • Pub. L. 98–369, §2806(a)(1), (b)(3), inserted "its deposit or" and "deposit or". · (f)
    • Pub. L. 98–369, §2807, inserted "and deposit" and "deposit or adjustment thereof or any" in two places. · (g)
    • Pub. L. 98–369, §2808, inserted ", unless otherwise prescribed by the Board". · (h)
    • Pub. L. 98–369, §2809, in amending par. (2) generally, substituted "fund, means an amount equal to 1.3 per centum of the aggregate amount of the insured shares in all insured credit unions, or such lower level as the Board may determine" for "Fund, means an amount equal to 1 per cen… · (h)
    • Pub. L. 98–369, §2810, amended par. (3) generally. Prior to amendment, par. (3) read as follows: "the term 'members accounts' when applied to the premium charge for insurance of accounts shall not include amounts received from other credit unions, the accounts of which are federally… · (h)

    1983

    • Pub. L. 97–457 substituted "paragraph (2)" for "paragraphs (2) and (3)" after "except as provided in". · (c)

    1982

    • Pub. L. 97–320, §529, redesignated par. (4) as (3). Former (3), which set forth rules for computing the insurance premiums due from credit unions chartered after Oct. 19, 1970, that became insured in the insurance year of their charter, was struck out. · (c)
    • Pub. L. 97–320, §529, redesignated par. (5) as (4). Former par. (4) redesignated (3). · (c), (5)
    • Pub. L. 97–320, §529, struck out par. (6) which set forth rules for payment of insurance rebates to insured credit unions closed for liquidation because of insolvency or otherwise. · (c)
    • Pub. L. 97–320, §528, substituted " 'members accounts' " for " 'member account' ", struck out "federally insured" after "received from other", and inserted ", the accounts of which are federally insured or insured or guaranteed by a fund established under State law or regulation for… · (h)

    1978

    • Pub. L. 95–630, §§502(b), 505(a), substituted "Board" for "Administrator" wherever appearing; "it" for "him" and "such officer's knowledge" for "his knowledge" in par. (1); "reports as it" for "reports as he" in par. (2); and "it may direct" for "he may direct" and "for its use" for "f… · (a)
    • Pub. L. 95–630, §502(b), substituted "Board" for "Administrator" wherever appearing, and "its" for "his" where appropriate. · (b), (c), (d), (e), (f), (g)
    • Pub. L. 95–630, §505(b), substituted "The term 'member account' when" for "the term 'members accounts' when", struck out "of federally insured credit unions" after "of accounts", and inserted "received from other federally insured credit unions" after "not include amounts". · (h)

    1974

    • Pub. L. 93–383 added par. (3). · (h)

    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.