12 U.S.C. § 3703 — Applicability
submitted 45 years ago by Pub. L. 97-35 to r/title-12-BANKS-AND-BANKING · 69 words · no verdicts yet
This section states when the chapter applies. It applies only in the circumstances described in the supplied text.
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 under other foreclosure procedures available, at the option of the Secretary. If the Secretary forecloses on any such mortgage under such other foreclosure procedures available, the provisions of section 3706(b) of this title may be applied at the discretion of the Secretary.
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.
Source credit: (Pub. L. 97–35, title III, § 364, Aug. 13, 1981, 95 Stat. 423; Pub. L. 98–181, title I [title IV, § 471], Nov. 30, 1983, 97 Stat. 1237.)
- 1981Enacted · Pub. L. 97-35 · 95 Stat. 423
- 1983Amended · Pub. L. 98-181 · 97 Stat. 1237
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-35 on 1981-08-13.
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