Government Sponsored Enterprise Law and Legal Definition
The term "government-sponsored enterprise" means “a corporate entity created by a law of the United States that--
(A) (i) has a Federal charter authorized by law;
(ii) is privately owned, as evidenced by capital stock owned by private entities or individuals;
(iii) is under the direction of a board of directors, a majority of which is elected by private owners;
(iv) is a financial institution with power to--
(I) make loans or loan guarantees for limited purposes such as to provide credit for specific borrowers or one sector; and
(II) raise funds by borrowing (which does not carry the full faith and credit of the Federal Government) or to guarantee the debt of others in unlimited amounts; and
(B) (i) does not exercise powers that are reserved to the Government as sovereign (such as the power to tax or to regulate interstate commerce);
(ii) does not have the power to commit the Government financially (but it may be a recipient of a loan guarantee commitment made by the Government); and
(iii) has employees whose salaries and expenses are paid by the enterprise and are not Federal employees subject to title 5 of the United States Code.” (2 USCS § 622)
Legal Definition list
- Government Service [Administrative Personnel]
- Government Securities Dealer
- Government Securities Broker
- Government Securities
- Government Publication
- Government Sponsored Enterprise
- Government Survey
- Government Technical Monitor [HUD]
- Government Technical Representative [HUD]
- Government Tort
- Government-Agency Defense
Related Legal Terms
- Abuses of Governmental Power Identified Under “Watergate”
- Accompanying the Federal Government Outside the United States
- Activity of Multinational Enterprises
- American Federation of Government Employees (AFGE)
- Animal Enterprise
- Attorney for the Government
- Business Enterprise
- Business Enterprise Program (BEP) [Education]
- Casino Enterprise
- Certified Local Government
