§ 1429. — Eligibility to secure advances.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1429]
TITLE 12--BANKS AND BANKING
CHAPTER 11--FEDERAL HOME LOAN BANKS
Sec. 1429. Eligibility to secure advances
Any member of a Federal Home Loan Bank shall be entitled to apply in
writing for advances. Such application shall be in such form as shall be
required by the Federal Home Loan Bank. Such Federal Home Loan Bank may
at its discretion deny any such application, or may grant it on such
conditions as the Federal Home Loan Bank may prescribe.
(July 22, 1932, ch. 522, Sec. 9, 47 Stat. 731; Pub. L. 101-73, title
VII, Secs. 701(b)(1), (3)(A), 710(a), Aug. 9, 1989, 103 Stat. 412, 418;
Pub. L. 106-102, title VI, Sec. 606(f)(1), Nov. 12, 1999, 113 Stat.
1455.)
Amendments
1999--Pub. L. 106-102 struck out ``with the approval of the Board''
after ``Federal Home Loan Bank'' in second sentence and struck out ``,
subject to the approval of the Board,'' after ``deny any such
application, or'' in third sentence.
1989--Pub. L. 101-73, Sec. 710(a), struck out ``or nonmember
borrower'' after ``Any member''.
Pub. L. 101-73, Sec. 701(b)(1), (3)(A), substituted ``Board'' for
``board'' wherever appearing.
