Title 15 — Commerce and TradeRelease 119-73not60
§77ii Subscriptions Accepted by Corporation as Loans; Repayment
Title 15 › Chapter 2A— SECURITIES AND TRUST INDENTURES › Subchapter II— FOREIGN SECURITIES › § 77ii
Summary
The corporation can accept money promises (subscriptions) from any person, a foundation serving the public, or a U.S. government agency. The board of directors can decide to treat those promises as loans and set when and how they must be paid back.
Full Legal Text
Title 15, §77ii
Commerce and Trade — Source: USLM XML via OLRC
The Corporation may receive subscriptions from any person, foundation with a public purpose, or agency of the United States Government, and such subscriptions may, in the discretion of the board of directors, be treated as loans repayable when and as the board of directors shall determine.
Reference
Citations & Metadata
Citation
15 U.S.C. § 77ii
Title 15 — Commerce and Trade
Last Updated
Apr 3, 2026
Release point: 119-73not60