dreamproit/uscode huggingface dataset:
12 U.S.C. § 1747f (BANKS AND BANKING)
§ 1747f. Payment of claims; assignment of benefits by investors
If in any operating year the net income of a project insured under this subchapter is less than the aggregate of the minimum annual amortization charge and the insured annual return, the Secretary, upon submission by the investor of a claim for the payment of the amount of the difference between such net income and the aggregate of the minimum annual amortization charge and the insured annual return and after proof of the validity of such claim, shall pay to the investor, in cash from the General Insurance Fund, the amount of such difference, as determined by the Secretary, but not exceeding, in any event, an amount equal to the aggregate of the minimum annual amortization charge and the insured annual return. Nothing contained in this subchapter or any other provision of law shall be construed as preventing or restricting an investor from assigning, pledging, or otherwise transferring or disposing of, subject to rules and regulations of the Secretary, any or all rights, claims, or other benefits under any insurance contract made pursuant to this subchapter to an assignee, pledgee, or other transferee, including the holders (or the trustee for such holders) of any debentures issued by the investor in connection with the project to which such insurance contract relates, and the Secretary is authorized to pay claims or issue debentures in accordance with the provisions of this section and section 1747g of this title to any such assignee, pledgee, or other transferee.
(June 27, 1934, ch. 847, title VII, § 707, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1278; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Sept. 1, 1951, ch. 378, title VI, § 609(b), 65 Stat. 316; Pub. L. 89–117, title XI, § 1108(s), Aug. 10, 1965, 79 Stat. 506; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
heading: References in Text
text: The General Insurance Fund, referred to in text, was established by section 1735c of this title.
heading: Amendments
text: 1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing.
1965—Pub. L. 89–117 substituted “General Insurance Fund” for “Housing Investment Insurance Fund”.
1951—Act Sept. 1, 1951, inserted second sentence.
1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.
12 U.S.C. § 1747h (BANKS AND BANKING)
§ 1747h. Termination of insurance contract by investor
The investor, after written notice to the Secretary of his intention so to do, may terminate, as of the close of any operating year, any insurance contract made pursuant to this subchapter. The Secretary shall prescribe the events and conditions under which said Secretary shall have the option to terminate any insurance contract made pursuant to this subchapter, and the events and conditions under which said Secretary may reinstate any insurance contract terminated pursuant to this section or section 1747g(a) of this title. If any insurance contract is terminated pursuant to this section, the Secretary may require the investor to pay an adjusted premium charge in such amount as the Secretary determines to be equitable, but not in excess of the aggregate amount of the premium charges which such investor otherwise would have been required to pay if such insurance contract had not been so terminated.
(June 27, 1934, ch. 847, title VII, § 709, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1280; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
heading: Amendments
text: 1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing.
1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.
12 U.S.C. § 1747i (BANKS AND BANKING)
§ 1747i. Repealed. Pub. L. 89–117, title XI, § 1108(aa), Aug. 10, 1965, 79 Stat. 507
text: Section, act June 27, 1934, ch. 847, title VII, § 710, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1280; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59, created the Housing Investment Insurance Fund, provided for the transfer of funds thereto, and authorized the payment of claims and the issue and cancellation of debentures.
text: For establishment of the General Insurance Fund, see section 1735c of this title.
12 U.S.C. § 1747j (BANKS AND BANKING)
§ 1747j. Taxation of real property
Nothing in this subchapter shall be construed to exempt any real property acquired and held by the Secretary under this subchapter from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed.
(June 27, 1934, ch. 847, title VII, § 711, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1281; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
heading: Amendments
text: 1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner”.
1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.
12 U.S.C. § 1747k (BANKS AND BANKING)
§ 1747k. Rules and regulations
The Secretary may make such rules and regulations as may be necessary or desirable to carry out the provisions of this subchapter, including, without limiting the foregoing, rules and regulations relating to the maintenance by the investor of books, records, and accounts with respect to the project and the examination of such books, records, and accounts by representatives of the Secretary; the submission of financial and operating statements and the approval thereof; the submission of claims for payments under insurance contracts, the proof of the validity of such claims, and the payment or disallowance thereof; the increase of the established investment if the investor shall make capital improvements or additions to the proj­ect; the decrease of the established investment if the investor shall sell part of the project; and the reduction of the outstanding investment for the appropriate operating year or operating years pending the restoration of dwelling or nondwelling facilities damaged by fire or other casualty. With respect to any investor which is subject to supervision or regulation by a State banking, insurance, or other State department or agency, the Secretary may, in carrying out any of his supervisory and regulatory functions with respect to projects insured under this subchapter, utilize, contract with, and act through, such department or agency and without regard to section 6101 of title 41.
(June 27, 1934, ch. 847, title VII, § 712, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1281; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
heading: Codification
text: In text, “section 6101 of title 41” substituted for “section 3709 of the Revised Statutes” on authority of Pub. L. 111–350, § 6(c), Jan. 4, 2011, 124 Stat. 3854, which Act enacted Title 41, Public Contracts.
heading: Amendments
text: 1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing.
1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.
12 U.S.C. § 1748a (BANKS AND BANKING)
§ 1748a. Repealed. Pub. L. 89–117, title XI, § 1108(aa), Aug. 10, 1965, 79 Stat. 507
text: Section, act June 27, 1934, ch. 847, title VIII, § 802, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 571; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 646, created the Armed Services Housing Insurance Fund.
text: For establishment of the General Insurance Fund, see section 1735c of this title.
12 U.S.C. § 1748c (BANKS AND BANKING)
§ 1748c. Repealed. Pub. L. 89–117, title XI, § 1108(aa), Aug. 10, 1965, 79 Stat. 507
text: Section, act June 27, 1934, ch. 847, title VIII, § 804, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 575; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 650, provided for disposition and use of excess moneys in Armed Services Housing Mortgage Insurance Fund, issue and cancellation of debentures, and receipt and payment of credits and charges.
12 U.S.C. § 1748d (BANKS AND BANKING)
§ 1748d. Lease of property; terms and conditions
Whenever the Secretary of the Army, Navy, or Air Force determines that it is necessary to lease any land held by the United States on or near a military installation to effectuate the purposes of this subchapter, he may lease such land upon such terms and conditions as will, in his opinion, best serve the national interest. The authority conferred by this section shall be in addition to and not in derogation of any other power or authority of the Secretary of the Army, Navy, or Air Force.
(June 27, 1934, ch. 847, title VIII, § 805, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651.)
heading: Amendments
text: 1955—Act Aug. 11, 1955, struck out specific references to sections authorizing leases of property, and struck out the power to sell, transfer, and convey real property.
12 U.S.C. § 1748e (BANKS AND BANKING)
§ 1748e. Mortgages on property in Alaska
The second sentence of section 1715d of this title, as amended, relating to housing in the State of Alaska, shall not apply to mortgages insured under this subchapter on property in said State.
(June 27, 1934, ch. 847, title VIII, § 806, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 86–70, § 10(d), June 25, 1959, 73 Stat. 143.)
heading: References in Text
text: Section 1715d of this title, referred to in text, was in the original “section 214 of the National Housing Act, as amended”. Section 214 of that Act was classified originally to section 1715d of this title and to section 484d of Title 48, Territories and Insular Possessions. Section 484d of Title 48 has been omitted from the Code.
heading: Amendments
text: 1959—Pub. L. 86–70 substituted “State” for “Territory” in two places.
1955—Act Aug. 11, 1955, reenacted section without change.
12 U.S.C. § 1748f (BANKS AND BANKING)
§ 1748f. Rules and regulations
The Secretary is authorized and directed to make such rules and regulations as may be necessary to carry out the provisions of this subchapter.
(June 27, 1934, ch. 847, title VIII, § 807, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 90–19, § 1(a)(3), (q), May 25, 1967, 81 Stat. 17, 19.)
heading: Amendments
text: 1967—Pub. L. 90–19 substituted “Secretary” for “Commissioner” and struck out authorization for appointment by the Commissioner of a Special Assistant for Armed Services Housing for Mortgage Insurance with an adequate staff to expedite operations and eliminate administrative obstacles to this subchapter, respectively.
1955—Act Aug. 11, 1955, amended section generally, striking out provisions which stated that nothing should be construed as exempting property from taxation, and inserting provisions authorizing the Commissioner to make rules and regulations and to appoint a Special Assistant.
12 U.S.C. § 1748g (BANKS AND BANKING)
§ 1748g. Cost certification
Except in the case of mortgages on multifamily rental housing projects insured under section 1748h–2 of this title, the cost certification required under section 1715r of this title shall not be required with respect to mortgages insured under the provisions of this subchapter.
(June 27, 1934, ch. 847, title VIII, § 808, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 86–372, title VII, § 704(b), Sept. 23, 1959, 73 Stat. 686.)
heading: Amendments
text: 1959—Pub. L. 86–372 substituted “Except in the case of mortgages on multifamily rental housing projects insured under section 1748h–2 of this title, the” for “The”.
1955—Act Aug. 11, 1955, struck out provisions requiring cost certifications.
12 U.S.C. § 1748g–1, 1748h (BANKS AND BANKING)
§§ 1748g–1, 1748h. Omitted
heading: Codification
text: Section 1748g–1, act June 27, 1934, ch. 847, title VIII, § 810, as added Sept. 1, 1951, ch. 378, title VI, § 601(d), 65 Stat. 313, which related to mortgages on housing constructed for personnel of the Atomic Energy Commission, was omitted from the amendments to title VIII of act June 27, 1934, this subchapter, by act Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 646.
Section 1748h, act June 27, 1934, ch. 847, title VIII, § 809, as added May 2, 1950, ch. 151, 64 Stat. 97, which related to the procurement of services of architects and engineers by the Secretaries of the Army, Navy and Air Force to effectuate the purposes of this subchapter, was omitted from the amendment to title VIII of act June 27, 1934, this subchapter, by act Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 646.
12 U.S.C. § 1748h–3 (BANKS AND BANKING)
§ 1748h–3. Payments in lieu of taxes; limitations; exemption from taxation
(a) The Secretary is authorized to make payments in lieu of taxes on any real property to which title has been or is hereafter acquired by him in fee under section 1748b of this title as effective prior to August 11, 1955, and on which taxes or payments in lieu of such taxes were payable or paid prior to acquisition by the Secretary. Such payments may be made in connection with tax years occurring prior to or subsequent to October 5, 1962. The amount of any such payments shall not exceed taxes on similar property and shall not include interest or penalties. If the Secretary has acquired or hereafter acquires title in fee to real property by foreclosure or by transfer from some other department or agency of the Government or otherwise during a tax year, he may make a payment in lieu of taxes prorated for that portion of the year remaining after his acquisition of title. This subsection shall not authorize any lien against property held by the Secretary, nor the payment of any tax, nor any payment in lieu of any tax, on any interest of the Secretary as lessee or mortgagee.
(b) Nothing in this subchapter shall be construed to exempt any real property which has been or is hereafter acquired and held by the Secretary under section 1748h–1 or 1748h–2 of this title from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed.
(June 27, 1934, ch. 847, title VIII, § 811, as added Pub. L. 87–756, Oct. 5, 1962, 76 Stat. 751; amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
heading: Amendments
text: 1967—Subsecs. (a), (b). Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing.
12 U.S.C. § 1748i (BANKS AND BANKING)
§ 1748i. Omitted
heading: Codification
text: Section, act Sept. 28, 1951, ch. 434, title V, § 505, 65 Stat. 365, related to appropriation and expenditure of funds for acquisition of land, installation of outside utilities, and site preparation for housing projects constructed under this subchapter.
12 U.S.C. § 1749aaa–1 (BANKS AND BANKING)
§ 1749aaa–1. Premiums and other charges
The Secretary shall fix premium charges for the insurance of mortgages under this subchapter, but such charges shall not be more than 1 per centum per annum of the amount of the principal obligation of the mortgage outstanding at any time, without taking into account delinquent payments or prepayments. In addition to the premium charge, the Secretary is authorized to charge and collect such amounts as he may deem reasonable for the analysis of a proposed project and the appraisal and inspection of the property and improvements. Where the principal obligation of any mortgage accepted for insurance under this subchapter is paid in full prior to the maturity date, the Secretary is authorized to require the payment by the mortgagee of an adjusted premium charge. This charge shall be in such amount as the Secretary determines to be equitable, but not in excess of the aggregate amount of the premium charges that the mortgagee would otherwise have been required to pay if the mortgage had continued to be insured until the maturity date. Where such prepayment occurs, the Secretary is authorized to refund to the mortgagee for the account of the mortgagor all, or such portion as he shall determine to be equitable, of the current unearned premium charges theretofore paid. Premium charges fixed under this section shall be payable by the mortgagee either in cash, or in debentures which are the obligation of the General Insurance Fund at par plus accrued interest, at such times and in such manner as may be prescribed by the Secretary.
(June 27, 1934, ch. 847, title XI, § 1102, as added Pub. L. 89–754, title V, § 502(a), Nov. 3, 1966, 80 Stat. 1275.)
12 U.S.C. § 1749aaa–2 (BANKS AND BANKING)
§ 1749aaa–2. Payment of insurance benefits
The mortgagee shall be entitled to receive the benefits of the insurance under this subchapter in the manner provided in subsection (g) of section 1713 of this title with respect to mortgages insured under that section. For such purpose the provisions of subsections (g), (h), (i), (j), (k), (l), and (n) of such section 1713 shall apply to mortgages insured under this subchapter and all references in such subsections to such section 1713 shall be deemed to refer to this subchapter.
(June 27, 1934, ch. 847, title XI, § 1103, as added Pub. L. 89–754, title V, § 502(a), Nov. 3, 1966, 80 Stat. 1275.)
12 U.S.C. § 1749aaa–3 (BANKS AND BANKING)
§ 1749aaa–3. Regulations
The Secretary shall prescribe such regulations as may be necessary to carry out this subchapter, after consulting with the Secretary of Health and Human Services with respect to any health or medical aspects of the program under this subchapter which may be involved in such regulations.
(June 27, 1934, ch. 847, title XI, § 1104, as added Pub. L. 89–754, title V, § 502(a), Nov. 3, 1966, 80 Stat. 1275; amended Pub. L. 98–479, title II, § 201(a)(2), Oct. 17, 1984, 98 Stat. 2227.)
heading: Amendments
text: 1984—Pub. L. 98–479 substituted “Health and Human Services” for “Health, Education, and Welfare”.
12 U.S.C. § 1749aaa–4 (BANKS AND BANKING)
§ 1749aaa–4. Administration
(a) Technical assistance
At the request of individuals or organizations operating or contemplating the operation of group practice facilities or medical practice facility (as defined in section 1749aaa–5 of this title), the Secretary may provide or obtain technical assistance in the planning for and construction of such facilities.
(b) Utilization of services and facilities of Federal agencies; payment; advances or reimbursement
With a view to avoiding unnecessary duplication of existing staffs and facilities of the Federal Government, the Secretary is authorized to utilize available services and facilities of any agency of the Federal Government in carrying out the provisions of this subchapter, and to pay for such services and facilities, either in advance or by way of reimbursement, in accordance with an agreement between the Secretary and the head of such agency.
(June 27, 1934, ch. 847, title XI, § 1105, as added Pub. L. 89–754, title V, § 502(a), Nov. 3, 1966, 80 Stat. 1276; amended Pub. L. 93–383, title III, § 312(a)(5), Aug. 22, 1974, 88 Stat. 683.)
heading: Amendments
text: 1974—Subsec. (a). Pub. L. 93–383 substituted “or medical practice facility (as defined in section 1749aaa–5 of this title)” for “(as defined in section 1749aaa–5(1) of this title)”.
12 U.S.C. § 1749bbb–3 to 1749bbb–6a (BANKS AND BANKING)
§§ 1749bbb–3 to 1749bbb–6a. Omitted
heading: Codification
text: Sections 1749bbb–3 to 1749bbb–6a, comprising part A of this subchapter, terminated on Sept. 30, 1985, pursuant to former section 1749bbb(b) of this title.
Section 1749bbb–3, act June 27, 1934, ch. 847, title XII, § 1211, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 558; amended Pub. L. 95–557, title III, § 307(b), (c), Oct. 31, 1978, 92 Stat. 2097, 2098; Pub. L. 97–35, title III, § 342(b), Aug. 13, 1981, 95 Stat. 420; Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to fair access to insurance requirements (FAIR plans).
Section 1749bbb–4, act June 27, 1934, ch. 847, title XII, § 1212, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 560, related to all-industry placement facility.
Section 1749bbb–5, act June 27, 1934, ch. 847, title XII, § 1213, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 560; amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to cooperation within insurance industry.
Section 1749bbb–6, act June 27, 1934, ch. 847, title XII, § 1214, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 560; amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to plan evaluation and modification or waiver of plan criteria.
Section 1749bbb–6a, act June 27, 1934, ch. 847, title XII, § 1215, as added Pub. L. 91–609, title VI, § 603, Dec. 31, 1970, 84 Stat. 1791; amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to periodic review of plans through an Office of Review and Compliance.
12 U.S.C. § 1749bbb–7 to 1749bbb–10 (BANKS AND BANKING)
§§ 1749bbb–7 to 1749bbb–10. Omitted
heading: Codification
text: Sections 1749bbb–7 to 1749bbb–10, comprising part B of this subchapter, were omitted in view of termination of powers of Director under this part on Nov. 30, 1983, pursuant to former section 1749bbb(b) of this title.
Section 1749bbb–7, act June 27, 1934, ch. 847, title XII, § 1221, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 560; amended Pub. L. 91–609, title VI, § 602(c), Dec. 31, 1970, 84 Stat. 1789; Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to reinsurance of losses from riots or civil disorders.
Section 1749bbb–8, act June 27, 1934, ch. 847, title XII, § 1222, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 561; amended Pub. L. 91–152, title IV, § 405, Dec. 24, 1969, 83 Stat. 396; Pub. L. 91–609, title VI, § 602(e), Dec. 31, 1970, 84 Stat. 1790; Pub. L. 95–24, title I, § 104(b), Apr. 30, 1977, 91 Stat. 56; Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230; Pub. L. 98–479, title II, § 203(i)(1), Oct. 17, 1984, 98 Stat. 2230; Pub. L. 100–242, title V, § 545(b), Feb. 5, 1988, 101 Stat. 1942, related to reinsurance agreements and premiums.
Section 1749bbb–9, act June 27, 1934, ch. 847, title XII, § 1223, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 562; amended Pub. L. 91–152, title IV, § 406, Dec. 24, 1969, 83 Stat. 396; Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to conditions of reinsurance.
Section 1749bbb–10, act June 27, 1934, ch. 847, title XII, § 1224, as added Pub. L. 90–448, title XI, § 1103, Aug. 1, 1968, 82 Stat. 563; amended Pub. L. 98–181, title I [title IV, § 452(b)(1)], Nov. 30, 1983, 97 Stat. 1230, related to recovery of premiums, jurisdiction, and statute of limitations.