12 U.S.C. § 1735e — Acceptance of materials or products used in structures
submitted 92 years ago by Pub. L. 89-117 to r/title-12-BANKS-AND-BANKING · 89 words · no verdicts yet
This section sets rules about Acceptance of materials or products used in structures. It also states the conditions, exceptions, procedures, and definitions included in those rules.
The Secretary must adopt a uniform procedure for the acceptance of materials and products to be used in structures approved for mortgages or loans insured under this chapter. Under that procedure any material or product which the Secretary finds is technically suitable for the use proposed must be accepted. Acceptance of a material or product as technically suitable must not be treated to restrict the discretion of the Secretary to determine that a structure, about which a mortgage is executed, is economically sound or an acceptable risk.
The Secretary shall adopt a uniform procedure for the acceptance of materials and products to be used in structures approved for mortgages or loans insured under this chapter. Under such procedure any material or product which the Secretary finds is technically suitable for the use proposed shall be accepted. Acceptance of a material or product as technically suitable shall not be deemed to restrict the discretion of the Secretary to determine that a structure, with respect to which a mortgage is executed, is economically sound or an acceptable risk.
Source credit: (June 27, 1934, ch. 847, title V, § 521, as added Pub. L. 89–117, title II, § 216, Aug. 10, 1965, 79 Stat. 473; amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
- 1934Enacted · Pub. L. 89-117 · 79 Stat. 473
- 1967Amended · Pub. L. 90-19 · 81 Stat. 17
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-117 on 1934-06-27.
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