12-U.S.C.-1441A-1
§1441A-1 – §1441A-1. Definitions
Pathway
Title 12 > Chapter 11 > Section 1441a-1
Details
- Reference: Section 1441a-1
- Legend: §1441A-1 – §1441A-1. Definitions
- USCode Year: 2013
Provision Content
For purposes of section 1441a–2 of this title:
(1) State housing finance authority
The term State housing finance authority means any public agency, authority, or corporation which—
(A) serves as an instrumentality of any State or any political subdivision of any State; and
(B) functions as a source of residential mortgage loan financing in that State.
(2) Nonprofit entity
The term nonprofit entity means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under section 501(c) of title 26 and no part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968 [42 U.S.C. 3931 et seq.]).
(3) Mortgage-related assets
The term mortgage-related assets means—
(A) residential mortgage loans secured by 1- to 4-family or multifamily dwellings; and
(B) real property improved with 1- to 4-family or multifamily residential dwellings,
which are located within the jurisdiction of the applicable State housing finance authority or within the geographical area served by the nonprofit entity.
(4) Net income
The term net income means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.
(Pub. L. 101–73, title XIII, §1301, Aug. 9, 1989, 103 Stat. 547.)
References in Text
The Housing and Urban Development Act of 1968, referred to in par. (2), is Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 476, as amended. Title IX of the Housing and Urban Development Act of 1968 is classified principally to chapter 49 (§3931 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title of 1968 Amendment note set out under section 1701 of this title and Tables.
Codification
Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Home Loan Bank Act which comprises this chapter.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1438A in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-1438A, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-1430B in the Legal Encyclopedia: Loans
In this entry about 12-U.S.C.-1430B, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.
12-U.S.C.-1430A in the Legal Encyclopedia: Housing
In this entry about 12-U.S.C.-1430A, find legal reference material, bibliographies and premiere content related to housing in the American Encyclopedia of Law, presenting a comprehensive view of the United States housing-specific issues, written by authorities in the field.
12-U.S.C.-1434 in the Legal Encyclopedia: Banks
In this entry about 12-U.S.C.-1434, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.
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