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22 U.S.C. · Foreign Relations and Intercourse
22 U.S.C. § 5426

United States policy of private financial support for Polish and Hungarian credit unions

Ch. 63 — SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED)
Title 22 U.S.C. ● ACTIVE Primary Source Ch. 63
Statutory Text

22 U.S.C. § 5426 — United States policy of private financial support for Polish and Hungarian credit unions

U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE 22 U.S.C. United States Code, 2023 Edition Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 63 - SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED) SUBCHAPTER II - PRIVATE SECTOR DEVELOPMENT Sec. 5426 - United States policy of private financial support for Polish and Hungarian credit unions From the U.S. Government Publishing Office, www.gpo.gov

§5426. United States policy of private financial support for Polish and Hungarian credit unions

(a) In general In order to facilitate the development of indigenous credit unions in Poland and Hungary, it is the policy of the United States that— (1) United States citizens, financial institutions (other than federally insured depository institutions), and other persons may make contributions and loans to, make capital deposits in, and provide other forms of financial and technical assistance to credit unions in Poland and Hungary; and (2) federally insured depository institutions may provide technical assistance to credit unions in Poland and Hungary, to the extent that the provision of such assistance is prudent and not inconsistent with safe and sound banking practice. (b) Omitted (c) Definitions For purposes of subsection (a)— (1) the term "credit union" means a member-owned, nonprofit, cooperative depository institution— (A) which is formed to permit individuals in the field of membership specified in such institution's charter to pool their savings, lend the savings to one another, and own the organization where they save, borrow, and obtain related financial services; and (B) whose members are united by a common bond and democratically operate the institution; and

(2) the term "federally insured depository institution" means— (A) any insured depository institution (as defined in section 1813(c)(2) of title 12); and (B) any insured credit union (as defined in section 1752(7) of title 12).

(Pub. L. 101–179, title II, §206, Nov. 28, 1989, 103 Stat. 1310.)

Editorial Notes

Codification Section is comprised of section 206 of Pub. L. 101–179. Subsec. (b) of section 206 of Pub. L. 101–179 amended section 1757 of Title 12, Banks and Banking.

Source: uscode.house.gov — public domain Official Source ↗
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22 U.S.C. § 5426
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The statutory text of 22 U.S.C. § 5426 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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← 22 U.S.C. § 5425 22 U.S.C. § 5441 →
Ch. 63 — SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED)
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