HR 2123 · 97th Congress · Commerce

Export Trading Company Act of 1981

Introduced 1981-02-25· Sponsored by Rep. Gibbons, Sam [D-FL-7]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Subcommittee Hearings Held.(1981-06-11)

Plain Language Summary

[AI summary unavailable — showing source text] Export Trading Company Act of 1981 - Establishes within the Department of Commerce an office to promote the formation of export trade associations and export trading companies. Title I: Export Trading Companies -Authorizes any banking organization to invest up to specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with the prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning impl…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

1 Democrat1 Republican