
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC1446]

 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER 11--FEDERAL HOME LOAN BANKS
 
Sec. 1446. Liquidation or reorganization; acquisition of assets 
        by other banks; assumption of liabilities
        
    Whenever the Board finds that the efficient and economical 
accomplishment of the purposes of this chapter will be aided by such 
action, and in accordance with such rules, regulations, and orders as 
the Board may prescribe, any Federal Home Loan Bank may be liquidated or 
reorganized, and its stock paid off and retired in whole or in part in 
connection therewith after paying or making provision for the payment of 
its liabilities. In the case of any such liquidation or reorganization, 
any other Federal Home Loan Bank may, with the approval of the Board, 
acquire assets of any such liquidated or reorganized bank and assume 
liabilities thereof, in whole or in part.

(July 22, 1932, ch. 522, Sec. 26, 47 Stat. 740; Pub. L. 101-73, title 
VII, Sec. 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412.)


                               Amendments

    1989--Pub. L. 101-73 substituted ``Board'' for ``board'' wherever 
appearing.
