12 U.S.C. § 1446 : US Code - Section 1446: Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities

Search 12 U.S.C. § 1446 : US Code - Section 1446: Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities

Whenever the Board finds that the efficient and economical
accomplishment of the purposes of this chapter will be aided by
such action, and in accordance with such rules, regulations, and
orders as the Board may prescribe, any Federal Home Loan Bank may
be liquidated or reorganized, and its stock paid off and retired in
whole or in part in connection therewith after paying or making
provision for the payment of its liabilities. In the case of any
such liquidation or reorganization, any other Federal Home Loan
Bank may, with the approval of the Board, acquire assets of any
such liquidated or reorganized bank and assume liabilities thereof,
in whole or in part.