There is created the National Credit Union Administration Central Liquidity Facility. The Central Liquidity Facility, an instrumentality of the United States, shall exist within the National Credit Union Administration and be managed by the Board. The United States district court shall have original jurisdiction over any case to which the Board on behalf of the Facility is a party, without regard to the amount in controversy.
CODIFICATION Section 309(b)(1) of Pub. L. 96–221 redesignated subch. III as title III of act June 26, 1934, ch. 750, cited as a credit to this section.AMENDMENTS 1984—Pub. L. 98–369 inserted ", an instrumentality of the United States,". 1980—Pub. L. 96–221, §309(a)(4), substituted "Board" for "Administrator" in two places, such change having been made previously by Pub. L. 95–630. 1978—Pub. L. 95–630, §502(b), substituted "Board" for "Administrator" in two places.EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–369 effective Oct. 1, 1979, see section 2813(c) of Pub. L. 98–369, set out as an Effective Date note under section 1795k of this title. EFFECTIVE DATE OF 1978 AMENDMENT Amendment effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 of Pub. L. 95–630, set out as a note under section 1752 of this title.EFFECTIVE DATE Section effective Oct. 1, 1979, see section 1806 of Pub. L. 95–630, set out as a note under section 1795 of this title.
12 U.S.C. § 1795b (2018)