12-U.S.C.-1470
§1470 – Federal Supervision of Insured Institutions, State Member and Nonmember Banks; Access to Information; Definitions
Pathway
Title 12 > Chapter 12 > Section 1470
Details
- Reference: Section 1470
- Legend: §1470 – Federal Supervision of Insured Institutions, State Member and Nonmember Banks; Access to Information; Definitions
- USCode Year: 2013
Provision Content
(a)(1) The appropriate Federal banking agency, with respect to the institutions subject to the jurisdiction of each such agency, shall by appropriate rule, regulation, order, or otherwise regulate investment in State housing corporations.
(2) A State housing corporation in which financial institutions invest under the authority of this section shall make available to the appropriate Federal banking agency referred to in paragraph (1) such information as may be necessary to insure that investments are properly made in accordance with this section.
(b) For the purposes of this section and any Act amended by this section—
(1) The term insured institution has the same meaning as in section 401(a) of the National Housing Act [12 U.S.C. 1724(a)].
(2) The terms State member insured banks and State nonmember insured banks have the same meaning as when used in the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.].
(3) The term State housing corporation means a corporation established by a State for the limited purpose of providing housing and incidental services, particularly for families of low or moderate income.
(4) The term State means any State, the District of Columbia, Guam, the Commonwealth of Puerto Rico, and the Virgin Islands.
(Pub. L. 93–100, §5(d), (e), Aug. 16, 1973, 87 Stat. 344; Pub. L. 111–203, title III, §375, July 21, 2010, 124 Stat. 1566.)
References in Text
This section, referred to in subsec. (a)(2), refers to section 5 of Pub. L. 93–100, which enacted this section and section 1469 of this title and amended sections 24 and 1464 of this title.
This section and any Act amended by this section, referred to in subsec. (b), are this section and sections 24 par. Seventh, 1464(c), and 1469 of this title.
Section 401(a) of the National Housing Act, referred to in subsec. (b)(1), which was classified to section 1724 of this title, was repealed by Pub. L. 101–73, title IV, §407, Aug. 9, 1989, 103 Stat. 363.
The Federal Deposit Insurance Act, referred to in subsec. (b)(2), is act Sept. 21, 1950, ch. 967, §2, 64 Stat. 873, which is classified generally to chapter 16 (§1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.
Codification
Section was not enacted as part of the Home Owners’ Loan Act of 1933, which comprises this chapter.
Subsecs. (d) and (e) of section 5 of Pub. L. 93–100 have been designated subsecs. (a) and (b) for purposes of codification.
Amendments
2010—Subsec. (a)(1). Pub. L. 111–203, §375(1), substituted appropriate Federal banking agency, with respect to the institutions subject to the jurisdiction of each such agency, for Federal Savings and Loan Insurance Corporation with respect to insured institutions, the Board of Governors of the Federal Reserve System with respect to State member insured banks, and the Federal Deposit Insurance Corporation with respect to State nonmember insured banks.
Subsec. (a)(2). Pub. L. 111–203, §375(2), substituted banking for supervisory.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Effective Date
Section effective Aug. 16, 1973, see section 8 of Pub. L. 93–100, set out as a note under section 1469 of this title.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1455 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-1455, 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.-1467B in the Legal Encyclopedia: Mortgage
In this entry about 12-U.S.C.-1467B, find legal reference material, bibliographies and premiere content related to mortgage in the American Encyclopedia of Law, presenting a comprehensive view of the United States mortgage-specific issues, written by authorities in the field.
12-U.S.C.-1467 in the Legal Encyclopedia: Housing
In this entry about 12-U.S.C.-1467, 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.
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