Sec. 7. Resolution and termination of Bank functions
102 words·~1 min read·
/bill/114/hr/4302/ih/section-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary shall— complete the disposition and resolution of functions of the Bank in accordance with this Act; and resolve all functions that are transferred to the Secretary under section 6(a)(2). All functions that are transferred to the Secretary under section 6(a)(2) shall terminate on the date all obligations of the Bank, and all obligations of others to the Bank, in effect immediately before the abolishment date have been satisfied, as determined by the Secretary. When the Secretary makes the determination described in subsection
(b)of this section, the Secretary shall report the determination to the Committees referred to in section 3(b).