Sec. 3. Establishment of the Infrastructure Bank for America
161 words·~1 min read·
/bill/116/hr/7231/ih/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The formation agent shall establish a corporation to be known as the Infrastructure Bank for America (in this Act referred to as the Bank ). The Bank shall— maintain its principle office in New York City or the District of Columbia; and be registered as a Delaware corporation, and, for the purposes of jurisdiction and venue in civil actions, operate as a Delaware corporation. At the earliest practicable date after the date of the enactment of this Act, the formation agent shall make and file with the Secretary of the Treasury (in this Act referred to as the Secretary ) an organization certificate for the Bank in accordance with such rules and regulations as the Secretary may prescribe.
The Bank shall establish regional offices for the purpose of focusing on infrastructure projects in different areas of the Unites States. The Board of Directors of the Holding Company established under section 2(b) shall be the initial Board of Directors of the Bank.