12 U.S.C. § 1735f–1
Waiver of deduction on assignment of property to Secretary in lieu of foreclosure
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 1735f–1, Waiver of deduction on assignment of property to Secretary in lieu of foreclosure, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437822
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Full text
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.
Legislative history
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