
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document affected by Public Law 107-115 Section 588]
[CITE: 12USC635f]

 
                       TITLE 12--BANKS AND BANKING
 
           CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
 
                    SUBCHAPTER I--GENERAL PROVISIONS
 
Sec. 635f. Termination date of Bank's functions; exceptions; 
        liquidation
        
    Export-Import Bank of the United States shall continue to exercise 
its functions in connection with and in furtherance of its objects and 
purposes until the close of business on September 30, 2001, but the 
provisions of this section shall not be construed as preventing the bank 
from acquiring obligations prior to such date which mature subsequent to 
such date or from assuming prior to such date liability as guarantor, 
endorser, or acceptor of obligations which mature subsequent to such 
date or from issuing, either prior or subsequent to such date, for 
purchase by the Secretary of the Treasury or any other purchasers, its 
notes, debentures, bonds, or other obligations which mature subsequent 
to such date or from continuing as a corporate agency of the United 
States and exercising any of its functions subsequent to such date for 
purposes of orderly liquidation, including the administration of its 
assets and the collection of any obligations held by the bank.

(July 31, 1945, ch. 341, Sec. 7, formerly Sec. 8, 59 Stat. 529; June 9, 
1947, ch. 101, Sec. 3, 61 Stat. 131; Oct. 3, 1951, ch. 445, Sec. 1(c), 
65 Stat. 367; Pub. L. 85-55, June 17, 1957, 71 Stat. 82; Pub. L. 88-101, 
Sec. 2, Aug. 20, 1963, 77 Stat. 128; Pub. L. 90-267, Sec. 1(a), (f), 
Mar. 13, 1968, 82 Stat. 47, 49; Pub. L. 92-126, Sec. 1(b)(4), Aug. 17, 
1971, 85 Stat. 345; Pub. L. 93-331, July 4, 1974, 88 Stat. 289; Pub. L. 
93-374, Aug. 14, 1974, 88 Stat. 445; Pub. L. 93-425, Sept. 30, 1974, 88 
Stat. 1166; Pub. L. 93-450, Oct. 18, 1974, 88 Stat. 1368; Pub. L. 93-
646, Sec. 9, Jan. 4, 1975, 88 Stat. 2336; Pub. L. 95-143, Sec. 4, Oct. 
26, 1977, 91 Stat. 1211; Pub. L. 95-407, Sept. 30, 1978, 92 Stat. 882; 
Pub. L. 95-630, title XIX, Sec. 1906, Nov. 10, 1978, 92 Stat. 3725; Pub. 
L. 98-109, Sec. 6, Oct. 1, 1983, 97 Stat. 746; Pub. L. 98-143, Nov. 1, 
1983, 97 Stat. 916; Pub. L. 98-181, title VI, Sec. 611, Nov. 30, 1983, 
97 Stat. 1254; Pub. L. 99-472, Sec. 14, Oct. 15, 1986, 100 Stat. 1204; 
renumbered Sec. 7 and amended Pub. L. 102-429, title I, Secs. 102, 
121(c)(2), Oct. 21, 1992, 106 Stat. 2187, 2199; (As amended Pub. L. 105-
46, Sec. 122, Sept. 30, 1997, 111 Stat. 1158; Pub. L. 105-121, 
Sec. 2(a), Nov. 26, 1997, 111 Stat. 2528.)


                            Prior Provisions

    A prior section 7 of act July 31, 1945, ch. 341, was renumbered 
section 6 and is classified to section 635e of this title.


                               Amendments

    1997--Pub. L. 105-121 substituted ``September 30, 2001'' for 
``September 30, October 23, 1997''.
    Pub. L. 105-46 substituted ``October 23, 1997'' for ``1997''.
    1992--Pub. L. 102-429, Sec. 102, substituted ``1997'' for ``1992''.
    1986--Pub. L. 99-472 substituted ``September 30, 1992'' for 
``September 30, 1986''.
    1983--Pub. L. 98-181 substituted ``September 30, 1986'' for 
``November 18, 1983''.
    Pub. L. 98-143 substituted ``November 18, 1983'' for ``October 31, 
1983''.
    Pub. L. 98-109 substituted ``October 31, 1983'' for ``September 30, 
1983''.
    1978--Pub. L. 95-630 substituted ``September 30, 1983'' for 
``December 31, 1978''.
    Pub. L. 95-407 substituted ``December 31, 1978'' for ``September 30, 
1978''.
    1977--Pub. L. 95-143 substituted ``September 30, 1978'' for ``June 
30, 1978''.
    1975--Pub. L. 93-646 substituted ``June 30, 1978'' for ``November 
30, 1974''.
    1974--Pub. L. 93-450 substituted ``November 30, 1974'' for ``October 
15, 1974''.
    Pub. L. 93-425 substituted ``October 15, 1974'' for ``September 30, 
1974''.
    Pub. L. 93-374 substituted ``September 30, 1974'' for ``July 30, 
1974''.
    Pub. L. 93-331 substituted ``July 30, 1974'' for ``June 30, 1974''.
    1971--Pub. L. 92-126 substituted ``June 30, 1974'' for ``June 30, 
1973'' and ``Secretary of the Treasury or any other purchasers'' for 
``Secretary of the Treasury''.
    1968--Pub. L. 90-267 changed name of ``Export-Import Bank of 
Washington'' to ``Export-Import Bank of the United States'' and 
substituted ``June 30, 1973'' for ``June 30, 1968''.
    1963--Pub. L. 88-101 substituted ``June 30, 1968'' for ``June 30, 
1963''.
    1957--Pub. L. 85-55 substituted ``June 30, 1963'' for ``June 30, 
1958''.
    1951--Act Oct. 3, 1951, substituted ``June 30, 1958'' for ``June 30, 
1953''.
    1947--Act June 9, 1947, struck out former section and inserted 
present section to provide for the termination of the Bank as of June 
30, 1953, and its orderly liquidation thereafter.


                    Effective Date of 1997 Amendment

    Section 2(b) of Pub. L. 105-121 provided that: ``The amendment made 
by this section [amending this section] shall take effect on September 
30, 1997.''


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-630 effective Nov. 10, 1978, see section 
1917 of Pub. L. 95-630, set out as a note under section 635 of this 
title.


             Continuing Appropriations for Fiscal Year 1998

    Termination date for Bank's functions was temporarily extended until 
the following dates by the acts listed below:
    Until Nov. 7, 1997, by Pub. L. 105-64, Oct. 23, 1997, 111 Stat. 
1343.
    Until Nov. 9, 1997, by Pub. L. 105-68, Nov. 7, 1997, 111 Stat. 1453.
    Until Nov. 10, 1997, by Pub. L. 105-69, Nov. 9, 1997, 111 Stat. 
1454.
    Until Nov. 14, 1997, by Pub. L. 105-71, Nov. 10, 1997, 111 Stat. 
1456.
    Until Nov. 26, 1997, by Pub. L. 105-84, Nov. 14, 1997, 111 Stat. 
1628.


     Financial Assistance to the Union of Soviet Socialist Republics

    Section 1 of Pub. L. 93-450 provided in part that the Bank shall not 
authorize any financial assistance to the Union of Soviet Socialist 
Republics during the life of Pub. L. 93-450, which extended the 
termination date from Oct. 15, 1974, to Nov. 30, 1974.
