United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 12. SAVINGS ASSOCIATIONS |
§ 1469. Authority to invest in State housing corporations
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The Congress finds that Federal savings and loan associations and national banks should have the authority to assist in financing the organization and operation of any State housing corporation established under the laws of the State in which the corporation will carry on its operation. It is the purpose of this section to provide a means whereby private financial institutions can assist in providing housing, particularly for families of low- or moderate-income, by purchasing stock of and investing in loans to any such State housing corporation situated in the particular State in which the Federal savings and loan association or national bank involved is located.
References In Text
This section, referred to in text, means section 5 of Pub. L. 93–100, which enacted this section and section 1470 of this title and amended sections 24 and 1464 of this title.
Codification
Section was not enacted as part of the Home Owners’ Loan Act of 1933 which comprises this chapter.
Effective Date
Pub. L. 93–100, § 8,