12 U.S.C. § 1735f–1 — Waiver of deduction on assignment of property to Secretary in lieu of foreclosure

FEDERAL · 12 U.S.C. · Chapter 13

Waiver of deduction on assignment of property to Secretary in lieu of foreclosure

Current through Pub. L. 119-102

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

Notwithstanding any other provision of this chapter, from and after November 3, 1966, the Secretary, under such terms and conditions as he may approve, may waive all or a part of the 1 per centum deduction otherwise made from insurance benefits with respect to multifamily housing or land development mortgages assigned to him, where the assignment is made at his request in lieu of foreclosure of the mortgage.

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Notwithstanding any other provision of this chapter, from and after November 3, 1966, the Secretary, under such terms and conditions as he may approve, may waive all or a part of the 1 per centum deduction otherwise made from insurance benefits with respect to multifamily housing or land development mortgages assigned to him, where the assignment is made at his request in lieu of foreclosure of the mortgage.

12 U.S.C. § 1735f–1 (Waiver of deduction on assignment of property to Secretary in lieu of foreclosure) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(June 27, 1934, ch. 847, title V, §523, as added Pub. L. 89–754, title III, §312, Nov. 3, 1966, 80 Stat. 1271.)