§ 3703. — Applicability.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3703]
TITLE 12--BANKS AND BANKING
CHAPTER 38--MULTIFAMILY MORTGAGE FORECLOSURE
Sec. 3703. Applicability
Multifamily mortgages held by the Secretary encumbering real estate
located in any State may be foreclosed by the Secretary in accordance
with this chapter, or pursuant to other foreclosure procedures
available, at the option of the Secretary. If the Secretary forecloses
on any such mortgage pursuant to such other foreclosure procedures
available, the provisions of section 3706(b) of this title may be
applied at the discretion of the Secretary.
(Pub. L. 97-35, title III, Sec. 364, Aug. 13, 1981, 95 Stat. 423; Pub.
L. 98-181, title IV, Sec. 471, Nov. 30, 1983, 97 Stat. 1237.)
Amendments
1983--Pub. L. 98-181 inserted provision relating to application of
section 3706(b) of this title in event of foreclosure under other
foreclosure procedures.
