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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 4709 Encouragement of private entities us united_states_code code_section 12 BANKS AND BANKING 47 COMMUNITY DEVELOPMENT BANKING 4709 12 U.S.C. § 4709 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s4709 data/legal/raw/us/code/title-12/usc12.xml a36a431bebf021ed72a3f9b011ad21fa7e61271e4c56d15e5d0dc3153eaa7d86 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 0290eb59ecc1e60f305cdfa69d8c0348ff48c0292fc445fb65d701be289c95aa 2026-07-04 official
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12 U.S.C. § 4709 - Encouragement of private entities

Text

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. 103325, title I, § 110, Sept. 23, 1994, 108 Stat. 2177.)