42 U.S.C. § 2365 — Amount of indemnity

FEDERAL · 42 U.S.C. · Chapter SUBCHAPTER V—FINANCING

Amount of indemnity

42 U.S.C. § 2365

ChapterSUBCHAPTER V—FINANCING

This text of 42 U.S.C. § 2365 (Amount of indemnity) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

42 U.S.C. § 2365.

Text

The indemnity obligation of the Commission specified in section 2363 of this title shall be for such amount, less the sales price of the property, as would have remained unpaid under a loan entered into on the date of the execution of the original deed by the Commission—

(1)which was in the amount of the purchase price from the Commission and provided for equal monthly payments of principal and interest over a period of twenty years computed on the basis of the average interest and other charges recorded for property of the same class at the community; and

(2)on which all payments due to the date when notice was received by the Commission had been made.

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The indemnity obligation of the Commission specified in section 2363 of this title shall be for such amount, less the sales price of the property, as would have remained unpaid under a loan entered into on the date of the execution of the original deed by the Commission—
(1) which was in the amount of the purchase price from the Commission and provided for equal monthly payments of principal and interest over a period of twenty years computed on the basis of the average interest and other charges recorded for property of the same class at the community; and
(2) on which all payments due to the date when notice was received by the Commission had been made.

Source Credit

History

(Aug. 4, 1955, ch. 543, ch. 6, §65, 69 Stat. 479.)

Editorial Notes

Statutory Notes and Related Subsidiaries

Transfer of Functions
Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections.

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Bluebook (online)

42 U.S.C. § 2365, Counsel Stack Legal Research, https://law.counselstack.com/usc/42/2365.