The Fund may facilitate the organization of corporations in which the Federal Government has no ownership interest. The purpose of any such entity shall be to assist community development financial institutions in a manner that is complementary to the activities of the Fund under this subchapter. Any such entity shall be managed exclusively by persons not employed by the Federal Government or any agency or instrumentality thereof, or by any State or local government or any agency or instrumentality thereof.
Structure US Code
CHAPTER 47— COMMUNITY DEVELOPMENT BANKING
SUBCHAPTER I— COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
§ 4703. Establishment of national Fund for community development banking
§ 4703a. Capital investments for neighborhoods disproportionately impacted by the COVID–19 pandemic
§ 4704. Applications for assistance
§ 4705. Community partnerships
§ 4706. Selection of institutions
§ 4707. Assistance provided by Fund
§ 4709. Encouragement of private entities
§ 4710. Collection and compilation of information
§ 4711. Investment of receipts and proceeds
§ 4712. Capitalization assistance to enhance liquidity
§ 4713. Incentives for depository institution participation
§ 4713a. Guarantees for bonds and notes issued for community or economic development purposes
§ 4716. Studies and reports; examination and audit