§ 1446. — Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 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.
