45 USC 720 - Obligations of Association

U.S Code last checked for updates: May 04, 2024

§ 720.

Obligations of Association

(a)

General

(b)

Maximum obligational authority

The aggregate principal amount (exclusive of interest or additions to principal on account of accrual of interest) of obligations issued by the Association under this section which may be outstanding at any one time shall not exceed $395,000,000. No obligations or proceeds thereof shall be issued or made available after February 5, 1976, except—

(1)

to meet existing or potential commitments for loans under section 721 of this title made or applied for prior to January 1, 1976; and

(2)

for the purpose of providing loans pursuant to subsections (g) and (h) of section 721 of this title.

(c)

Guarantees

(d)

Validity

(e)

The Secretary of the Treasury

(f)

Authorization for appropriations

(g)

Lawful investments

(Pub. L. 93–236, title II, § 210, Jan. 2, 1974, 87 Stat. 1000; Pub. L. 94–210, title VI, §§ 604, 607(k), Feb. 5, 1976, 90 Stat. 88, 97; Pub. L. 94–555, title II, § 203(e), Oct. 19, 1976, 90 Stat. 2620; Pub. L. 96–448, title VII, § 703(f)(3), Oct. 14, 1980, 94 Stat. 1965.)

cite as: 45 USC 720