12 USC § 1444 - Eligibility to membership in banks

---
identifier: "/us/usc/t12/s1444"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 1444 - Eligibility to membership in banks"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "1444"
section_name: "Eligibility to membership in banks"
chapter_number: 11
chapter_name: "FEDERAL HOME LOAN BANKS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(July 22, 1932, ch. 522, § 24, 47 Stat. 739; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)"
---


# § 1444. Eligibility to membership in banks

**(a)** Any organization organized under the laws of any State and subject to inspection and regulation under the banking or similar laws of such State shall be eligible to become a member under this chapter if—

**(1)** it is organized solely for the purpose of supplying credit to its members;

**(2)** its membership (A) is confined exclusively to building and loan associations, savings and loan associations, cooperative banks, and homestead associations; or (B) is confined exclusively to savings banks; and

**(3)** of the institutions to which its membership is confined which are organized within the State, its membership includes a majority of such institutions.

**(b)** In all respects, but subject to such additional rules and regulations as the Director may provide, any such organization shall be a member for the purposes of this chapter.

---

**Source Credit**: (July 22, 1932, ch. 522, § 24, 47 Stat. 739; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)

## Editorial Notes

### Amendments

2008—Subsec. (b).  substituted “the Director” for “the Board”.

1989—Subsec. (b).  substituted “Board” for “board”.