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15 U.S.C. § 693Powers of Administration respecting loans; liquidation of obligations through creation of new leases, execution of subleases, and assignments of leases

submitted 61 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 96 words · no verdicts yet

in plain englishAI-generated · not legal advice

For its work under this part, the Administrator and Administration have the loan powers and limits in section 634(b), including power to make leases and subleases that help liquidate Administration obligations.

In addition to section 671 authority, for the functions and duties under this part the Administrator and Administration have all authority, and are subject to the same conditions, that section 634(b) provides for loans. This includes making subleases, lease assignments, and new leases with any person or entity to help liquidate Administration obligations under this part.
the actual law source: uscode.house.gov ↗public domain

Without limiting the authority conferred upon the Administrator and the Administration by section 671 of this title, the Administrator and the Administration shall have, in the performance of and with respect to the functions, powers, and duties conferred by this part, all the authority and be subject to the same conditions prescribed in section 634(b) of this title with respect to loans, including the authority to execute subleases, assignments of lease and new leases with any person, firm, organization, or other entity, in order to aid in the liquidation of obligations of the Administration hereunder.

Source credit: (Pub. L. 85–699, title IV, § 402, as added Pub. L. 89–117, title III, § 316(a), Aug. 10, 1965, 79 Stat. 483; amended Pub. L. 91–609, title IX, § 911(a)(2), Dec. 31, 1970, 84 Stat. 1812.)

history & why it existsrecord from the source credit
  • 1965Enacted · Pub. L. 85-699 · 79 Stat. 483
  • 1970Amended · Pub. L. 91-609 · 84 Stat. 1812

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 1965-08-10.

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