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§ 1772a. —  Gifts; acceptance of conditional gifts; deposit.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1772a]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 14--FEDERAL CREDIT UNIONS
 
                    SUBCHAPTER I--GENERAL PROVISIONS
 
Sec. 1772a. Gifts; acceptance of conditional gifts; deposit

    The Board is authorized to accept gifts of money made 
unconditionally by will or otherwise for the carrying out of any of the 
functions under this chapter. A conditional gift of money made by will 
or otherwise for such purposes may be accepted and used in accordance 
with its conditions, but no such gift shall be accepted which is 
conditioned upon any expenditure not to be met therefrom or from income 
thereof unless the Board determines that supplementation of such gift 
from the fees it may expend pursuant to sections 1755 and 1756 of this 
title or from any funds appropriated pursuant to section 1766(f)(2)(C) 
of this title for the purpose of making such expenditure will not 
adversely affect the sound administration of this chapter. Any such gift 
shall be deposited in the Treasury of the United States for the account 
of the Administration and may be expended in accordance with section 
1755 of this title or as provided in the preceding sentence.

(June 26, 1934, ch. 750, title I, Sec. 127, formerly Sec. 28, as added 
Pub. L. 90-375, Sec. 3, July 5, 1968, 82 Stat. 285; amended Pub. L. 91-
206, Sec. 2(1), (3), Mar. 10, 1970, 84 Stat. 49; renumbered title I, 
Sec. 127, Pub. L. 91-468, Sec. 1(2), Oct. 19, 1970, 84 Stat. 994; 
amended Pub. L. 95-630, title V, Sec. 502(b), Nov. 10, 1978, 92 Stat. 
3681.)


                               Amendments

    1978--Pub. L. 95-630 substituted ``Board'' for ``Administrator'' in 
two places, and ``it may expend'' for ``he may expend''.
    1970--Pub. L. 91-206 substituted ``Administrator'' for ``Director'' 
and ``Administration'' for ``Bureau'' wherever appearing.


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-630 effective on expiration of 120 days 
after Nov. 10, 1978, and transitional provisions, see section 509 of 
Pub. L. 95-630, set out as a note under section 1752 of this title.



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