25-U.S.C.-1496

25-U.S.C.-1496

§1496 – Powers of Secretary; Finality of Financial Transactions and Property Acquisitions, Management, and Dispositions

Pathway

Title 25 > Chapter 17 > Subchapter II > Section 1496

Details

  • Reference: Section 1496
  • Legend: §1496 – Powers of Secretary; Finality of Financial Transactions and Property Acquisitions, Management, and Dispositions
  • USCode Year: 2013

Provision Content

The financial transactions of the Secretary incident to or arising out of the guarantee or insurance of loans and surety bonds, and the acquisition, management, and disposition of property, real, personal, or mixed, incident to such activities, shall be final and conclusive upon all officers of the Government. With respect to matters arising out of the guaranty or insurance program authorized by this subchapter, and notwithstanding the provisions of any other laws, the Secretary may—

(a) sue and be sued in his official capacity in any court of competent jurisdiction;

(b) subject to the specific limitations in this subchapter, consent to the modification, with respect to the rate of interest, time of payment on principal or interest or any portion thereof, security, or any other provisions of any note, contract, mortgage, or other instrument securing a loan or surety bond which has been guaranteed or insured hereunder;

(c) subject to the specific limitations in this subchapter, pay, or compromise, any claim on, or arising because of any loan or surety bond guaranty or insurance;

(d) subject to the specific limitations in this subchapter, pay, compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including, but not limited to, any equity or right of redemption;

(e) purchase at any sale, public or private, upon such terms and for such prices as he determines to be reasonable, and take title to property, real, personal, or mixed; and similarly sell, at public or private sale, exchange, assign, convey, or otherwise dispose of such property; and

(f) complete, administer, operate, obtain, and pay for insurance on, and maintain, renovate, repair, modernize, lease, or otherwise deal with any property acquired or held pursuant to the guaranty or insurance program authorized by this subchapter.

(Pub. L. 93–262, title II, §216, Apr. 12, 1974, 88 Stat. 81; Pub. L. 100–442, §5(c), Sept. 22, 1988, 102 Stat. 1764.)

Amendments

1988—Pub. L. 100–442 inserted and surety bonds after of loans in introductory text, or surety after a loan in par. (b), and or surety after any loan in par. (c).

U.S. Encyclopedia of Law Coverage

25-U.S.C.-1494 in the Legal Encyclopedia: Indians

In this entry about 25-U.S.C.-1494, find legal reference material, bibliographies and premiere content related to indians in the American Encyclopedia of Law, presenting a comprehensive view of the United States indians-specific issues, written by authorities in the field.

25-U.S.C.-1482 in the Legal Encyclopedia: Loans

In this entry about 25-U.S.C.-1482, 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.

25-U.S.C.-1484 in the Legal Encyclopedia: Insurance

In this entry about 25-U.S.C.-1484, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.

25-U.S.C.-1467 in the Legal Encyclopedia: Indians Financing

In this entry about 25-U.S.C.-1467, find legal reference material, bibliographies and premiere content related to indians financing in the American Encyclopedia of Law, presenting a comprehensive view of the United States indians financing-specific issues, written by authorities in the field.

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