Reconstruction Finance Corporation Act of 1991

Summary

Reconstruction Finance Corporation Act of 1991 - Establishes the Reconstruction Finance Corporation as an independent instrumentality of the United States. Mandates that the Corporation issue bonds fully and unconditionally federally guaranteed. Provides that the Corporation shall be managed by a Board of Directors consisting of the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the Council of Economic Advisers, and four other individuals appointed by the President with the advice and consent of the Senate. Outlines corporate powers and organization. Authorizes the Corporation to make loans and loan guarantees to business concerns otherwise unable to obtain such loans on reasonable terms in order to: (1) enable a business concern to finance plant construction, conversion, expansion, or acquisition of materiel; (2) supply a business concern with working capital; or (3) aid a business concern in the payment of debts or obligations. Prescribes lending guidelines. Requires the Corporation to report quarterly to the Congress regarding loans made and its financial status.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 March 1991

  Open at official source

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