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12 U.S.C. · Banks and Banking
12 U.S.C. § 1441a2

Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets

Ch. 11 — FEDERAL HOME LOAN BANKS
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 11
Statutory Text

12 U.S.C. § 1441a2 — Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 11 - FEDERAL HOME LOAN BANKS Sec. 1441a-2 - Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets From the U.S. Government Publishing Office, www.gpo.gov

§1441a–2. Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets

(a) Authorization Notwithstanding any other provision of Federal or State law, a State housing finance authority or nonprofit entity may purchase mortgage-related assets from the Resolution Trust Corporation or from financial institutions with respect to which the Federal Deposit Insurance Corporation is acting as a conservator or receiver (including assets associated with any trust business), and any contract for such purchase shall be effective in accordance with its terms without any further approval, assignment, or consent with respect to that contract. (b) Investment requirement Any State housing finance authority or nonprofit entity which purchases mortgage-related assets pursuant to subsection (a) shall invest any net income attributable to the ownership of those assets in financing, refinancing, or rehabilitating low- and moderate-income housing within the jurisdiction of the State housing finance authority or within the geographical area served by the nonprofit entity.

(Pub. L. 101–73, title XIII, §1302, Aug. 9, 1989, 103 Stat. 548.)

Editorial Notes

Codification Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Home Loan Bank Act which comprises this chapter.

Statutory Notes and Related Subsidiaries

Definitions The definitions in section 1441a–1 of this title apply to this section.

Source: uscode.house.gov — public domain Official Source ↗
Root-LD Entity Data
◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC12-SEC-C2674D
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
boisestandard.org
Citation
12 U.S.C. § 1441a2
Jurisdiction
Federal — United States
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
ad23427c4aa610ee...
Semantic Edges
Pending — corpus passes queued
The statutory text of 12 U.S.C. § 1441a2 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 1441a1 12 U.S.C. § 1441a3 →
Ch. 11 — FEDERAL HOME LOAN BANKS
12 U.S.C. § 142112 U.S.C. § 142212 U.S.C. § 1422a12 U.S.C. § 142312 U.S.C. § 142412 U.S.C. § 142512 U.S.C. § 142612 U.S.C. § 1426a12 U.S.C. § 142712 U.S.C. § 142812 U.S.C. § 1428a12 U.S.C. § 142912 U.S.C. § 143012 U.S.C. § 1430a12 U.S.C. § 1430b12 U.S.C. § 1430c12 U.S.C. § 143112 U.S.C. § 143212 U.S.C. § 143312 U.S.C. § 143412 U.S.C. § 143512 U.S.C. § 143612 U.S.C. § 143712 U.S.C. § 143812 U.S.C. § 1438a12 U.S.C. § 143912 U.S.C. § 1439a12 U.S.C. § 144012 U.S.C. § 1440a12 U.S.C. § 1441
12 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 12 → 12 U.S.C. § 1441a2