12 USC 1735f-1: Waiver of deduction on assignment of property to Secretary in lieu of foreclosure
Text contains those laws in effect on May 2, 2024
From Title 12-BANKS AND BANKINGCHAPTER 13-NATIONAL HOUSINGSUBCHAPTER V-MISCELLANEOUS
Jump To: Source Credit
§1735f–1. Waiver of deduction on assignment of property to Secretary in lieu of foreclosure
Notwithstanding any other provision of this chapter, from and after November 3, 1966, the Secretary, under such terms and conditions as he may approve, may waive all or a part of the 1 per centum deduction otherwise made from insurance benefits with respect to multifamily housing or land development mortgages assigned to him, where the assignment is made at his request in lieu of foreclosure of the mortgage.
(June 27, 1934, ch. 847, title V, §523, as added