Source: http://law2.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1735f-19&num=0&edition=prelim
Timestamp: 2019-07-16 08:49:06
Document Index: 744192872

Matched Legal Cases: ['§ 1735', '§541', '§101', '§210', '§523', '§213', '§213', '§210']

[USC02] 12 USC 1735f-19: Partial payment of claims on defaulted mortgages and in connection with mortgage restructuring
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12 USC 1735f-19: Partial payment of claims on defaulted mortgages and in connection with mortgage restructuring Text contains those laws in effect on July 15, 2019
Notwithstanding any other provision of law, if the Secretary is requested to accept assignment of a mortgage insured by the Secretary that covers a multifamily housing project (as such term is defined in section 1701z–11(b) of this title) or a health care facility (including a nursing home, intermediate care facility, or board and care home (as those terms are defined in section 1715w of this title), a hospital (as that term is defined in section 1715z–7 of this title), or a group practice facility (as that term is defined in section 1749aaa–5 of this title)) and the Secretary determines that partial payment would be less costly to the Federal Government than other reasonable alternatives for maintaining the low-income character of the project, or for keeping the health care facility operational to serve community needs, the Secretary may request the mortgagee, in lieu of assignment, to-
(June 27, 1934, ch. 847, title V, §541, as added Pub. L. 103–233, title I, §101(e), Apr. 11, 1994, 108 Stat. 357 ; amended Pub. L. 105–65, title II, §210, title V, §523(b), Oct. 27, 1997, 111 Stat. 1366 , 1406; Pub. L. 106–74, title II, §213(a), Oct. 20, 1999, 113 Stat. 1073 .)
The Multifamily Assisted Housing Reform and Affordability Act of 1997, referred to in subsec. (b), is title V of Pub. L. 105–65, Oct. 27, 1997, 111 Stat. 1384 . Sections 514 and 517(a) of the Act are set out as a note under section 1437f of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title of 1997 Amendment note set out under section 1701 of this title and Tables.
1999-Pub. L. 106–74, §213(a)(1), substituted "defaulted mortgages and in connection with mortgage restructuring" for "multifamily housing projects and health care facilities" in section catchline.
1997-Pub. L. 105–65, §210(1), inserted "and health care facilities" after "housing projects" in section catchline.