12-U.S.C.-3352
§3352 – Emergency Exceptions For Disaster Areas
Pathway
Title 12 > Chapter 34A > Section 3352
Details
- Reference: Section 3352
- Legend: §3352 – Emergency Exceptions For Disaster Areas
- USCode Year: 2013
Provision Content
(a) In general
Each Federal financial institutions regulatory agency may, by regulation or order, make exceptions to this chapter, and to standards prescribed pursuant to this chapter, for transactions involving institutions for which the agency is the primary Federal regulator with respect to real property located within a disaster area if the agency—
(1) makes the exception not later than 30 months after the date on which the President determines, pursuant to section 5170 of title 42, that a major disaster exists in the area; and
(2) determines that the exception—
(A) would facilitate recovery from the major disaster; and
(B) is consistent with safety and soundness.
(b) 3-year limit on exceptions
Any exception made under this section shall expire not later than 3 years after the date of the determination referred to in subsection (a)(1) of this section.
(c) Publication required
Any Federal financial institutions regulatory agency shall publish in the Federal Register a statement that—
(1) describes any exception made under this section; and
(2) explains how the exception—
(A) would facilitate recovery from the major disaster; and
(B) is consistent with safety and soundness.
(d) Disaster area defined
For purposes of this section, the term disaster area means an area in which the President, pursuant to section 5170 of title 42, has determined that a major disaster exists.
(Pub. L. 101–73, title XI, §1123, as added Pub. L. 102–485, §2, Oct. 23, 1992, 106 Stat. 2771.)
U.S. Encyclopedia of Law Coverage
12-U.S.C.-3345 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-3345, 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.-3311 in the Legal Encyclopedia: Credit Institutions
In this entry about 12-U.S.C.-3311, find legal reference material, bibliographies and premiere content related to credit institutions in the American Encyclopedia of Law, presenting a comprehensive view of the United States credit institutions-specific issues, written by authorities in the field.
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