Page:United States Statutes at Large Volume 96 Part 1.djvu/1087

 PUBLIC LAW 97-258—SEPT. 13, 1982

96 STAT. 1045

(3) Subsection (b) of this section does not apply to the Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, the National Consumer Cooperative Bank, or the Federal Land Banks. However, the head of each of those banks shall report each year to the Secretary the names of depositaries where accounts are kept. If the Secretary considers it advisable when an annual report is received, the Secretary may make a written report to the corporation, the President, and Congress. §9108. Obligations (a) Before a Government corporation issues obligations and offers obligations to the public, the Secretary of the Treasury shall prescribe— (1) the form, denomination, maturity, interest rate, and conditions to which the obligations will be subject; (2) the way and time the obligations are issued; and (3) the price for which the obligations will be sold. (b) A Government corporation may buy or sell a direct obligation of the United States Government, or an obligation on which the principal, interest, or both, is guaranteed, of more than $100,000 only when the Secretary approves the purchase or sale. The Secretary may waive the requirement of this subsection under conditions the Secretary may decide. (c) The Secretary may designate an officer or employee of an agency to carry out this section if the head of the agency agrees. (d)(1) This section does not apply to a mixed-ownership Government corporation when the corporation has no capital of the Government. (2) Subsections (a) and (b) of this section do not apply to the Rural Telephone Bank (when the ownership, control, and operation of the Bank are converted under section 410(a) of the Rural Electrification Act of 1936 (7 U.S.C. 950(a))), the Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, the National Consumer Cooperative Bank, and the Federal Land Banks. However, the head of each of those banks shall consult with the Secretary before taking action of the kind described in subsection (a) or (b). If agreement is not reached, the Secretary may make a written report to the corporation, the President, and Congress on the reasons for the Secretary's disagreement. § 9109. Exclusion of a wholly owned Government corporation from this chapter When the President considers it practicable and in the public interest, the President shall include in the budget submitted to Congress under section 1105 of this title a recommendation that a wholly owned Government corporation be deemed to be an agency (except a corporation) under chapter 11 of this title and for fiscal matters. If Congress approves the recommendation, the corporation is deemed to be an agency (except a corporation) under chapter 11 and for fiscal matters for fiscal years beginning after the fiscal year of approval and is not subject to this chapter. The corporate entity is not affected by this section.

Waiver,

Ante, p. 907.

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