§ 1735f-1. — Waiver of deduction on assignment of property to Secretary in lieu of foreclosure.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1735f-1]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
SUBCHAPTER V--MISCELLANEOUS
Sec. 1735f-1. Waiver of deduction on assignment of property to
Secretary in lieu of foreclosure
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.
(June 27, 1934, ch. 847, title V, Sec. 523, as added Pub. L. 89-754,
title III, Sec. 312, Nov. 3, 1966, 80 Stat. 1271.)
