Building and Loan Guarantee Funds. Hearing ... 88-2 .. July 21, 19641964 - 55 pages |
Common terms and phrases
86th Congress amendment to H.R. amount Assembly of Maryland bill board of directors building and loan bylaws capital stock CHAIRMAN committee COMPARISON OF PRINCIPAL Congress Department of Building Deposit Guarantee Fund depositors domestic building exempt from income Federal Home Loan Federal income tax Federal Savings free share accounts funds for domestic government of Maryland Governor Tawes Home Loan Bank insurance of shares insured associations Internal Revenue Code Internal Revenue Service legislation loan associations Loan Bank Board Loan Insurance Corporation Maryland Department Maryland savings Maryland Savings-Share Insurance member associations membership million mortgage MSSIC mutual organizations Ohio fund percent provide insurance provide reserve funds RABSTEJNEK Savings & Loan savings and loan Savings-Share Insurance Corp Senator Brewster Senator CARLSON Senator DOUGLAS Senator GORE Senator MCCARTHY Senator WILLIAMS State-authorized insurance funds State-chartered statement tax exemption taxation certain nonprofit tion Treasury Department U.S. Senate
Popular passages
Page 55 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings.
Page 55 - Such debentures shall be exempt, both as to principal and interest, from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by any Territory, dependency, or possession of the United States or by the District of Columbia, or by any State, county, municipality, or local taxing authority.
Page 50 - ... shall be eligible to become a member of, or a nonmember borrower of, a Federal Home Loan Bank if such institution (1) is duly organized under the laws of any State or of the United States...
Page 55 - Upon duly making and filing articles of association and an organization certificate, the association shall become, as from the date of the execution of its organization certificate, a body corporate, and as such, and in the name designated in the organization certificate, it shall have power: First.
Page 52 - Each Federal Home Loan Bank is authorized to make advances to its members upon the security of home mortgages, or obligations of the United States, or obligations fully guaranteed by the United States, subject to such regulations, restrictions, and limitations as the Board may prescribe.
Page 55 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 54 - ... whose creditor liabilities (not including advances from the Federal Home Loan Bank) do not exceed 5 per centum of their net assets, and which may be made without the security of home mortgages or other security, upon such terms and conditions as the board may prescribe.
Page 55 - The bank, including its franchise, its capital, reserves, and surplus, its advances, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority; except that...
Page 52 - ... except that if at any time the board finds that the paid-in capital of a Federal Home Loan Bank is or is likely to be impaired as a result of losses in or depreciation of the assets held, the Federal Home Loan Bank shall on the order of the board withhold from the...
Page 55 - A plot whereon there is or may be erected a building or buildings suitable for the convenient transaction of its business, from portions of which, not required for its own use, a revenue may be derived.