
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC635k]

 
                       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
        
    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, Sec. 2, July 7, 1968, 82 Stat. 297.)

                  Section Referred to in Other Sections

    This section is referred to in section 635l of this title.
