2011 US Code
Title 12 - Banks and Banking
Chapter 13 - NATIONAL HOUSING (§§ 1701 - 1750jj)
Section 1701m - Credit and cancellation of notes transferred from Reconstruction Finance Corporation; net loss...
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING Sec. 1701m - Credit and cancellation of notes transferred from Reconstruction Finance Corporation; net loss computation |
| Contains | section 1701m |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | No |
| Disposition | transferred |
| Source Credit | July 14, 1952, ch. 723, §9, 66 Stat. 603. |
| Statutes at Large References | 64 Stat. 1279 66 Stat. 603 71 Stat. 647 79 Stat. 669 |
| Public Law Reference | Public Law 89-174 |
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The Secretary of the Treasury is authorized and directed from time to time to credit and cancel the note or notes of the Housing and Home Finance Administrator executed and delivered in connection with loans transferred from the Reconstruction Finance Corporation to the Housing and Home Finance Agency pursuant to Reorganization Plan Numbered 23 of 1950 (64 Stat. 1279), to the extent of the net loss, as determined by the Secretary of the Treasury, sustained by said Agency in the liquidation of defaulted loans. The net loss shall be the sum of the unpaid principal and advances for care and preservation of collateral, together with accrued and unpaid interest on said principal and advances, and all expenses and costs (other than those subject to administrative expense limitations) in connection with the liquidation of defaulted loans, less the amount actually realized by the Housing and Home Finance Agency on account of such defaulted loans.
(July 14, 1952, ch. 723, §9, 66 Stat. 603.)
References in TextReorganization Plan Numbered 23 of 1950, referred to in text, is set out in the Appendix to Title 5, Government Organization and Employees.
CodificationSection was enacted as part of the Housing Act of 1952, and not as part of the National Housing Act which comprises this chapter.
Transfer of FunctionsFunctions, powers, and duties of Housing and Home Finance Agency and its Administrator transferred to and vested in Secretary of Housing and Urban Development by Pub. L. 89–174, §5, Sept. 9, 1965, 79 Stat. 669, classified to section 3534 of Title 42, The Public Health and Welfare.
Termination, Liquidation, and Abolition of Reconstruction Finance CorporationSection 6(a) of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633, 71 Stat. 647, set out in the Appendix to Title 5, Government Organization and Employees, abolished Reconstruction Finance Corporation.
Termination on June 30, 1954, of Reconstruction Finance Corporation and liquidation thereof, see sections 608 and 609 of Title 15, Commerce and Trade, and notes thereunder.
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