Powers
State homestead provisions
No provision of this chapter or any other provision of law administered by the appropriate Federal banking agency shall be construed as superseding any homestead provision of any State constitution, including any implementing State statute, in effect on , or any subsequent amendment to such a State constitutional or statutory provision in effect on , that exempts the homestead of any person from foreclosure, or forced sale, for the payment of all debts, other than a purchase money obligation relating to the homestead, taxes due on the homestead, or an obligation arising from work and material used in constructing improvements on the homestead.
June 13, 1933, ch. 64, § 3Pub. L. 101–73, title III, § 301103 Stat. 278Pub. L. 103–325, title III, § 331(c)108 Stat. 2232Pub. L. 103–328, title I, § 102(b)(5)108 Stat. 2352Pub. L. 109–351, title VII, § 712120 Stat. 1994Pub. L. 111–203, title III, § 369(3)124 Stat. 1558(, as added , , ; amended , , ; , , ; , , ; , , .)
Editorial Notes
References in Text
Pub. L. 111–203124 Stat. 1376section 3502 of Title 44section 5301 of this titleThe Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to in subsec. (a), is , , . Subtitle A (§§ 311–319) of title III of the Act enacted part A (§ 5411 et seq.) of subchapter III of chapter 53 and sections 4b and 16 of this title, amended sections 1, 11, 248, 481, 482, 1813, and 1820 of this title and , Public Printing and Documents, and enacted provisions set out as notes under sections 1 and 16 of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.
Pub. L. 101–73103 Stat. 183The Financial Institutions Reform, Recovery, and Enforcement Act of 1989, referred to in subsec. (a), is , , . For complete classification of this Act to the Code, see Tables.
Prior Provisions
section 1424 of this titlePub. L. 101–73, § 301A prior section 3 of act , amended prior to the general revision of this chapter by .
Amendments
Pub. L. 111–203, § 369(3)(A)2010—, inserted section catchline and struck out former section catchline “Director of the Office of Thrift Supervision”.
Pub. L. 111–203, § 369(3)(B), (C), redesignated subsecs. (e) and (f) as (a) and (b), respectively, and struck out former subsecs. (a) to (d), which related to establishment of the Office of Thrift Supervision, position, appointment and term of Director, and prohibition on financial interests by Director; and subsecs. (g) to (j), which related to annual report requirement, staff, funding through assessments, and GAO audits.
Pub. L. 111–203, § 369(3)(D)Subsec. (a). , struck out “of the Director” after “Powers” in heading and substituted “In accordance with subtitle A of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the appropriate Federal banking agency” for “The Director” in introductory provisions.
Pub. L. 111–203, § 369(3)(E)Subsec. (b). , substituted “appropriate Federal banking agency” for “Director”.
Pub. L. 109–351, § 712(b)2006—Subsec. (c)(3). , designated existing provisions as subpar. (A), inserted subpar. heading, and added subpar. (B).
Pub. L. 109–351, § 712(a)Subsec. (c)(5). , amended heading and text of par. (5) generally. Prior to amendment, text read as follows: “Notwithstanding paragraphs (1) and (2), the Chairman of the Federal Home Loan Bank Board on the date of enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, shall be the Director until the date on which that individual’s term as Chairman of the Federal Home Loan Bank Board would have expired.”
Pub. L. 103–325, § 331(c)(1)1994—Subsec. (b)(3). , substituted “(including agency enforcement actions) unless otherwise specifically provided by law” for “unless otherwise provided by law”.
Pub. L. 103–325, § 331(c)(2)Subsec. (b)(4). , added par. (4).
Pub. L. 103–328Subsecs. (f) to (j). added subsec. (f) and redesignated former subsecs. (f) to (i) as (g) to (j), respectively.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Pub. L. 111–203section 351 of Pub. L. 111–203section 906 of Title 2Amendment by effective on the transfer date, see , set out as a note under , The Congress.
Executive Documents
Delegation of Authority To Ratify Office of Thrift Supervision Actions
Memorandum of the President of the United States, , 55 F.R. 15207, provided:
Memorandum for the Director of the Office of Thrift Supervision
section 301 of title 3By the authority vested in me as President of the United States by the Constitution and laws of the United States, including of the United States Code, I hereby delegate to the Director of the Office of Thrift Supervision my authority to ratify actions taken on behalf of, or in the name of, the Office of Thrift Supervision or its Director before .
This memorandum shall be published in the Federal Register.