12 U.S.C. § 1735e — Acceptance of materials or products used in structures

FEDERAL · 12 U.S.C. · Chapter 13

Acceptance of materials or products used in structures

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 13 — NATIONAL HOUSING·Subch. V

The Secretary shall adopt a uniform procedure for the acceptance of materials and products to be used in structures approved for mortgages or loans insured under this chapter. Under such procedure any material or product which the Secretary finds is technically suitable for the use proposed shall be accepted. Acceptance of a material or product as technically suitable shall not be deemed to restrict the discretion of the Secretary to determine that a structure, with respect to which a mortgage is executed, is economically sound or an acceptable risk.

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The Secretary shall adopt a uniform procedure for the acceptance of materials and products to be used in structures approved for mortgages or loans insured under this chapter. Under such procedure any material or product which the Secretary finds is technically suitable for the use proposed shall be accepted. Acceptance of a material or product as technically suitable shall not be deemed to restrict the discretion of the Secretary to determine that a structure, with respect to which a mortgage is executed, is economically sound or an acceptable risk.

12 U.S.C. § 1735e (Acceptance of materials or products used in structures) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(June 27, 1934, ch. 847, title V, §521, as added Pub. L. 89–117, title II, §216, Aug. 10, 1965, 79 Stat. 473; amended Pub. L. 90–19, §1(a)(3), May 25, 1967, 81 Stat. 17.)

Editorial Notes

Editorial Notes

Amendments
1967—Pub. L. 90–19 substituted "Secretary" for "Commissioner" wherever appearing.