Any contract of insurance or guarantee executed by the Secretary under this subchapter shall be an obligation supported by the full faith and credit of the United States and incontestable except for fraud or misrepresentation of which the holder had actual knowledge at the time it became a holder.
May 20, 1936, ch. 432 Pub. L. 93–32, § 287 Stat. 70 Pub. L. 94–124, § 289 Stat. 677 Pub. L. 103–354, title II, § 235(a)(13)108 Stat. 3221 (, title III, § 308, as added , , ; amended , , ; , , .)
Editorial Notes
Amendments
Pub. L. 103–3541994— substituted “Secretary” for “Administrator”.
Pub. L. 94–1241975— substituted “of which the holder had actual knowledge at the time it became a holder” for “of which the holder has actual knowledge”.
Statutory Notes and Related Subsidiaries
Effective Date
section 12 of Pub. L. 93–32section 930 of this titleSection effective , see , set out as a note under .