Title 12 — Banks and BankingRelease 119-73
§3042 Authorization of appropriations for advances; deposits into separate Account in Bank; availability of amounts
Title 12 › Chapter CHAPTER 31— - NATIONAL CONSUMER COOPERATIVE BANK › Subchapter SUBCHAPTER II— - OFFICE OF SELF-HELP DEVELOPMENT AND TECHNICAL ASSISTANCE › § 3042
Summary
Up to $14,000,000 may be given to the Office for fiscal year 1982 to make the advances required by section 3043. The Office must put those funds into a separate account at the Bank that stays available until spent. Repayments and interest from the advances must go into that account. No other Bank money can be moved into it, and the account can only be used as section 3043 allows.
Full Legal Text
Title 12, §3042
Banks and Banking — Source: USLM XML via OLRC
There are hereby authorized to be appropriated to the Office for the purpose of making advances under section 3043 of this title an amount not to exceed $14,000,000 for fiscal year 1982. Any amounts appropriated to the Office shall be deposited by the Office in a separate account in the Bank (hereinafter the “Account”), and shall remain available until expended. Repayments of capital investment advances made pursuant to section 3043(a) of this title and interest supplement advances made pursuant to section 3043(b) of this title and payments of interest thereon pursuant to section 3043(c) of this title shall also be deposited in the Account. No other funds of the Bank shall be transferred into the Account. The Account shall be used by the Office only as authorized in section 3043 of this title.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1981—Pub. L. 97–35 substituted provisions authorizing appropriations for fiscal year 1982, for provisions authorizing appropriations for the fiscal year ending Sept. 30, 1979, and the next two succeeding fiscal years.
Statutory Notes and Related Subsidiaries
Effective Date
of 1981 AmendmentAmendment by Pub. L. 97–35 effective Oct. 1, 1981, see section 395(b)(3) of Pub. L. 97–35, set out as a note under section 3014 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3042
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73