Title 15, Commerce and TradeRelease 119-102
§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 offers from anyone, from foundations that serve the public, or from U.S. government agencies. The board of directors can decide to treat those offers 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
Aug 21, 2026
Release point: 119-102