12 U.S.C. § 1469 | Authority to invest in State housing corporations

The Congress finds that Federal savings and loan associations and national banks should have the authority to assist in financing the organization and operation of any State housing corporation established under the laws of the State in which the corporation will carry on its operation. It is the purpose of this section to provide a means whereby private financial institutions can assist in providing housing, particularly for families of low- or moderate-income, by purchasing stock of and investing in loans to any such State housing corporation situated in the particular State in which the Federal savings and loan association or national bank involved is located.

Pub. L. 93–100, § 5(a)Aug. 16, 197387 Stat. 343(, , .)

Editorial Notes

References in Text

section 5 of Pub. L. 93–100 section 1470 of this titleThis section, referred to in text, means , which enacted this section and and amended sections 24 and 1464 of this title.

Codification

Section was not enacted as part of the Home Owners’ Loan Act of 1933 which comprises this chapter.

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 93–100, § 8Aug. 16, 197387 Stat. 348

section 548 of this titleAug. 16, 1973section 1470 of this titleAug. 16, 1973“The provisions of this Act [enacting this section and sections 1470 and 1832 of this title, amending sections 24, 461 note, 1464, 1725, 1727 and 1828 of this title, and enacting provisions set out as notes under ] shall take effect on the thirtieth day after the date of its enactment [], except that the amendments made by sections 1 and 5 [enacting this section and and amending sections 24, 461 note, and 1464 of this title] shall take effect on the date of enactment of this Act [].”

, , , provided that: