Prohibition against sale of obligations by Federal departments and agencies after June 30, 1966, without compliance with requirements of section 1717(c) of this title or without approval by Secretary of the Treasury; exemption

12 U.S.C. § 1717a

• Title: 12 — Banks and Banking
• Chapter: SUBCHAPTER III—NATIONAL MORTGAGE ASSOCIATIONS

Text

After June 30, 1966, no department or agency listed in section 1717(c)(2) of this title may sell any obligation held by it except as provided in section 1717(c) of this title, or as approved by the Secretary of the Treasury, except that this prohibition shall not apply to the Government National Mortgage Association.

History

(Pub. L. 89–429, §6(b), May 24, 1966, 80 Stat. 167; Pub. L. 90–448, title VIII, §807(g), Aug. 1, 1968, 82 Stat. 545.)

Editorial Notes

Editorial Notes

Codification
Section was enacted as a part of the Participation Sales Act of 1966, and not as a part of the National Housing Act, which comprises this chapter or the Federal National Mortgage Association Charter Act which comprises this subchapter.

Amendments
1968—Pub. L. 90–448 substituted "the Government National Mortgage Association" for "secondary market operations carried on by the Federal National Mortgage Association".

Statutory Notes and Related Subsidiaries

Effective Date of 1968 Amendment
For effective date of amendment by Pub. L. 90–448, see section 808 of Pub. L. 90–448, set out as an Effective Date note under section 1716b of this title.