---
kind: "section"
citation: "12 U.S.C. § 1444"
title: "12"
title_heading: "Banks and Banking"
number: "1444"
heading: "Eligibility to membership in banks"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1444"
units:
  - "Chapter 11 — Federal Home Loan Banks"
---

# §1444. Eligibility to membership in banks

- (a) Any organization organized under the laws of any [State](/usc/12/1422.md?p=2) and subject to inspection and regulation under the banking or similar laws of such [State](/usc/12/1422.md?p=2) shall be eligible to become a [member](/usc/12/1422.md?p=3) under this chapter if—
  - (1) it is organized solely for the purpose of supplying [credit](/usc/12/5481.md?p=7) to its [members](/usc/12/1422.md?p=3);
  - (2) its membership (A) is confined exclusively to building and loan associations, savings and loan associations, cooperative [banks](/usc/12/1422.md?p=1-A), and homestead associations; or (B) is confined exclusively to savings [banks](/usc/12/1422.md?p=1-A); and
  - (3) of the institutions to which its membership is confined which are organized within the [State](/usc/12/1422.md?p=2), its membership includes a majority of such institutions.
- (b) In all respects, but subject to such additional rules and regulations as the [Director](/usc/12/1422.md?p=11) may provide, any such organization shall be a [member](/usc/12/1422.md?p=3) 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.)

## Notes

### Editorial Notes

### Amendments

2008—Subsec. (b). Pub. L. 110–289 substituted “the Director” for “the Board”.

1989—Subsec. (b). Pub. L. 101–73 substituted “Board” for “board”.