{"identifier":"/us/usc/t15/s78oo","title":15,"num":"\u00a7\u202f78oo.","heading":"Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks","text":"\u00a7\u202f78oo.\nFederal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks\n(a)\nFederal National Mortgage Association and Federal Home Loan Mortgage Corporation\nNo class of equity securities of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation shall be treated as an exempted security for purposes of section 78\nl\n(b)\nFederal Home Loan Banks\n(1)\nRegistration\nEach Federal Home Loan Bank shall register a class of its common stock under section 78\nl\nJuly 30, 2008\nl\n(2)\nStandards relating to audit committees\nEach Federal Home Loan Bank shall comply with the rules issued by the Commission under\nsection 78j\u20131(m) of this title\n(c)\nDefinitions\nFor purposes of this section, the following definitions shall apply:\n(1)\nFederal Home Loan Bank; member\nThe terms \u201cFederal Home Loan Bank\u201d and \u201cmember\u201d, have the same meanings as in\nsection 1422 of title 12\n(2)\nFederal National Mortgage Association\nThe term \u201cFederal National Mortgage Association\u201d means the corporation created by the Federal National Mortgage Association Charter Act [\n12 U.S.C. 1716\n(3)\nFederal Home Loan Mortgage Corporation\nThe term \u201cFederal Home Loan Mortgage Corporation\u201d means the corporation created by the Federal Home Loan Mortgage Corporation Act [\n12 U.S.C. 1451","url":"https://projectusc.org/usc/t15/s78oo.html","content":[{"t":"sec","id":"/us/usc/t15/s78oo","children":[{"t":"num","text":"\u00a7\u202f78oo."},{"t":"heading","text":"Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks"},{"t":"subsec","id":"/us/usc/t15/s78oo/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Federal National Mortgage Association and Federal Home Loan Mortgage Corporation"},{"t":"content","children":[{"t":"p","text":"No class of equity securities of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation shall be treated as an exempted security for purposes of section 78","children":[{"t":"text","text":"l","tail":", 78m, 78n, or 78p of this title."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s78oo/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Federal Home Loan Banks"},{"t":"para","id":"/us/usc/t15/s78oo/b/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Registration"},{"t":"content","children":[{"t":"p","text":"Each Federal Home Loan Bank shall register a class of its common stock under section 78","children":[{"t":"text","text":"l","tail":"(g) of this title, not later than 120 days after "},{"t":"text","text":"July 30, 2008","tail":", and shall thereafter maintain such registration and be treated for purposes of this chapter as an \u201cissuer\u201d, the securities of which are required to be registered under section 78"},{"t":"text","text":"l","tail":" of this title, regardless of the number of members holding such stock at any given time."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s78oo/b/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Standards relating to audit committees"},{"t":"content","children":[{"t":"p","text":"Each Federal Home Loan Bank shall comply with the rules issued by the Commission under ","children":[{"t":"ref","text":"section 78j\u20131(m) of this title","href":"/us/usc/t15/s78j\u20131/m","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s78oo/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Definitions"},{"t":"chapeau","text":"For purposes of this section, the following definitions shall apply:"},{"t":"para","id":"/us/usc/t15/s78oo/c/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Federal Home Loan Bank; member"},{"t":"content","children":[{"t":"p","text":"The terms \u201cFederal Home Loan Bank\u201d and \u201cmember\u201d, have the same meanings as in ","children":[{"t":"ref","text":"section 1422 of title 12","href":"/us/usc/t12/s1422","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s78oo/c/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Federal National Mortgage Association"},{"t":"content","children":[{"t":"p","text":"The term \u201cFederal National Mortgage Association\u201d means the corporation created by the Federal National Mortgage Association Charter Act [","children":[{"t":"ref","text":"12 U.S.C. 1716","href":"/us/usc/t12/s1716","tail":" et seq.]."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s78oo/c/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Federal Home Loan Mortgage Corporation"},{"t":"content","children":[{"t":"p","text":"The term \u201cFederal Home Loan Mortgage Corporation\u201d means the corporation created by the Federal Home Loan Mortgage Corporation Act [","children":[{"t":"ref","text":"12 U.S.C. 1451","href":"/us/usc/t12/s1451","tail":" et seq.]."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}