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12 U.S.C. · Banks and Banking
12 U.S.C. § 635k

Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations

Ch. 6A — EXPORT-IMPORT BANK OF THE UNITED STATES
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 6A
Statutory Text

12 U.S.C. § 635k — Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 6A - EXPORT-IMPORT BANK OF THE UNITED STATES SUBCHAPTER II - EXPORT FINANCING Sec. 635k - Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations From the U.S. Government Publishing Office, www.gpo.gov

§635k. Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations

In the event of any losses, as determined by the Board of Directors of the Bank, incurred on loans, guarantees, and insurance extended under this subchapter, the first $100,000,000 of such losses shall be borne by the Bank; the second $100,000,000 of such losses shall be borne by the Secretary of the Treasury; and any losses in excess thereof shall be borne by the Bank. Reimbursement of the Bank by the Secretary of the Treasury of the amount of losses which are to be borne by the Secretary of the Treasury as aforesaid shall be from funds made available pursuant to section 635l of this title. All guarantees and insurance issued by the Bank shall be considered contingent obligations backed by the full faith and credit of the Government of the United States of America.

(Pub. L. 90–390, §2, July 7, 1968, 82 Stat. 297.)

Source: uscode.house.gov — public domain Official Source ↗
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BS-USC12-SEC-80AB2C
Entity Class
STATUTE / FEDERAL-CODE-SECTION
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boisestandard.org
Citation
12 U.S.C. § 635k
Jurisdiction
Federal — United States
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✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
c9b9644ce696db76...
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Pending — corpus passes queued
The statutory text of 12 U.S.C. § 635k is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 635j 12 U.S.C. § 635l →
Ch. 6A — EXPORT-IMPORT BANK OF THE UNITED STATES
12 U.S.C. § 63512 U.S.C. § 635a12 U.S.C. § 635a112 U.S.C. § 635a212 U.S.C. § 635a312 U.S.C. § 635a412 U.S.C. § 635a512 U.S.C. § 635a612 U.S.C. § 635a712 U.S.C. § 635b12 U.S.C. § 635c12 U.S.C. § 635d12 U.S.C. § 635e12 U.S.C. § 635f12 U.S.C. § 635g12 U.S.C. § 635g112 U.S.C. § 635h12 U.S.C. § 635i12 U.S.C. § 635i312 U.S.C. § 635i412 U.S.C. § 635i512 U.S.C. § 635i612 U.S.C. § 635i712 U.S.C. § 635i812 U.S.C. § 635i912 U.S.C. § 635j12 U.S.C. § 635k12 U.S.C. § 635l12 U.S.C. § 635m12 U.S.C. § 635n
12 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 12 → 12 U.S.C. § 635k