Treasury tax and loan depositaries; depositaries and financial agents of the Government.

CFR · 2024-01-01 · US · Title 12

(a) (2) (3) (4) (b) Subject to regulation of the United States Treasury Department, a Federal credit union may serve as a Treasury tax and loan depositary, a depositary of Federal taxes, a depositary of public money, and a financial agent of the United States Government. In serving in these capacities, a Federal credit union may maintain the accounts defined in subsection (a), pledge collateral, and perform the services described under United States Treasury Department regulations for institutions acting in these capacities. (c) Funds held in a TT&L Remittance Account, a TT&L Note Account, a (d) Funds held in a TT&L Remittance Account, a TT&L Note Account, a Treasury General Account, and U.S. Treasury Time Deposit—Open Account are not subject to the 60-day notice requirement of Article III, section 5(a) of the Federal Credit Union Bylaws.

official document · source cfr-2024 · id 12:§ 701.37