31 U.S.C. § 9108 : US Code - Section 9108: Obligations

Search 31 U.S.C. § 9108 : US Code - Section 9108: Obligations

(a) Before a Government corporation issues obligations and offers
obligations to the public, the Secretary of the Treasury shall
prescribe -
(1) the form, denomination, maturity, interest rate, and
conditions to which the obligations will be subject;
(2) the way and time the obligations are issued; and
(3) the price for which the obligations will be sold.
(b) A Government corporation may buy or sell a direct obligation
of the United States Government, or an obligation on which the
principal, interest, or both, is guaranteed, of more than $100,000
only when the Secretary approves the purchase or sale. The
Secretary may waive the requirement of this subsection under
conditions the Secretary may decide.
(c) The Secretary may designate an officer or employee of an
agency to carry out this section if the head of the agency agrees.
(d)(1) This section does not apply to a mixed-ownership
Government corporation when the corporation has no capital of the
Government.
(2) Subsections (a) and (b) of this section do not apply to the
Rural Telephone Bank (when the ownership, control, and operation of
the Bank are converted under section 410(a) of the Rural
Electrification Act of 1936 (7 U.S.C. 950(a))), the Federal
Intermediate Credit Banks, the Central Bank for Cooperatives, the
Regional Banks for Cooperatives, and the Federal Land Banks.
However, the head of each of those banks shall consult with the
Secretary before taking action of the kind described in subsection
(a) or (b). If agreement is not reached, the Secretary may make a
written report to the corporation, the President, and Congress on
the reasons for the Secretary's disagreement.