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12 U.S.C. § 371 — Real estate loans

submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 165 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) Authorization to make real estate loans; orders, rules, and regulations of Comptroller of the Currency

Any national banking association may make, arrange, purchase or sell loans or extensions of credit secured by liens on interests in real estate, subject to section 1828(o) of this title and such restrictions and requirements as the Comptroller of the Currency may prescribe by regulation or order.

(b) Eligibility for discount as commercial paper of notes representing loans financing construction of residential or farm buildings; prerequisites

Notes representing loans made under this section to finance the construction of residential or farm buildings and having maturities not to exceed nine months shall be eligible for discount as commercial paper within the terms of the first paragraph of section 343 of this title if accompanied by a valid and binding agreement to advance the full amount of the loan upon the completion of the building entered into by an individual, partnership, association, or corporation acceptable to the discounting bank.

Source credit: (Dec. 23, 1913, ch. 6, § 24, 38 Stat. 273; Sept. 7, 1916, ch. 461, 39 Stat. 754; Feb. 25, 1927, ch. 191, § 16, 44 Stat. 1232; June 27, 1934, ch. 847, § 505, 48 Stat. 1263; Aug. 23, 1935, ch. 614, title II, § 208, title III, § 328, 49 Stat. 706, 717; Mar. 28, 1941, ch. 31, § 8, 55 Stat. 62; July 22, 1937, ch. 517, § 15(a), as added Aug. 14, 1946, ch. 964, § 5, 60 Stat. 1079; May 25, 1948, ch. 334, § 9, 62 Stat. 265; Oct. 25, 1949, ch. 729, § 6, 63 Stat. 906; Apr. 20, 1950, ch. 94, title V, § 502, 64 Stat. 80; Sept. 1, 1951, ch. 378, title II, § 207, title V, § 503, 65 Stat. 303, 312; Aug. 15, 1953, ch. 510, 67 Stat. 613; July 22, 1954, ch. 561, 68 Stat. 525; Aug. 28, 1937, ch. 870, § 10(f), as added Aug. 17, 1954, ch. 751, § 1(4), 68 Stat. 736; Aug. 11, 1955, ch. 781, §§ 1, 2, 69 Stat. 633, 634; Pub. L. 85–536, § 3, July 18, 1958, 72 Stat. 396; Pub. L. 86–251, § 4, Sept. 9, 1959, 73 Stat. 489; Pub. L. 87–70, title VIII, § 804(c), title IX, § 902, June 30, 1961, 75 Stat. 188, 191; Pub. L. 87–717, Sept. 28, 1962, 76 Stat. 662; Pub. L. 88–341, June 30, 1964, 78 Stat. 233; Pub. L. 88–560, title X, § 1004, Sept. 2, 1964, 78 Stat. 807; Pub. L. 89–117, title II, § 201(b)(2), title XI, § 1111, Aug. 10, 1965, 79 Stat. 465, 509; Pub. L. 89–754, title V, § 504(a)(2), Nov. 3, 1966, 80 Stat. 1277; Pub. L. 90–19, § 26, May 25, 1967, 81 Stat. 28; Pub. L. 90–448, title IV, § 416(b), title XVII, § 1718, Aug. 1, 1968, 82 Stat. 518, 609; Pub. L. 91–351, title VII, § 704, July 24, 1970, 84 Stat. 462; Pub. L. 91–609, title VII, § 727(c), Dec. 31, 1970, 84 Stat. 1803; Pub. L. 93–383, title VII, § 711, title VIII, § 802(i)(1), Aug. 22, 1974, 88 Stat. 716, 725; Pub. L. 97–320, title IV, § 403(a), Oct. 15, 1982, 96 Stat. 1510; Pub. L. 102–242, title III, § 304(b), Dec. 19, 1991, 105 Stat. 2354.)

history & why it existsrecord from the source credit
  • 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 273
  • 1916Amended · Act of Sept. 7, 1916, ch. 461 · 39 Stat. 754
  • 1927Amended · Act of Feb. 25, 1927, ch. 191 · 44 Stat. 1232
  • 1934Amended · Act of June 27, 1934, ch. 847 · 48 Stat. 1263
  • 1935Amended · Act of Aug. 23, 1935, ch. 614 · 49 Stat. 706, 717
  • 1941Amended · Act of Mar. 28, 1941, ch. 31 · 55 Stat. 62
  • 1937Amended · Act of July 22, 1937, ch. 517 · 60 Stat. 1079
  • 1948Amended · Act of May 25, 1948, ch. 334 · 62 Stat. 265
  • 1949Amended · Act of Oct. 25, 1949, ch. 729 · 63 Stat. 906
  • 1950Amended · Act of Apr. 20, 1950, ch. 94 · 64 Stat. 80
  • 1951Amended · Act of Sept. 1, 1951, ch. 378 · 65 Stat. 303, 312
  • 1953Amended · Act of Aug. 15, 1953, ch. 510 · 67 Stat. 613
  • 1954Amended · Act of July 22, 1954, ch. 561 · 68 Stat. 525
  • 1937Amended · Act of Aug. 28, 1937, ch. 870 · 68 Stat. 736
  • 1955Amended · Act of Aug. 11, 1955, ch. 781 · 69 Stat. 633, 634
  • 1958Amended · Pub. L. 85-536 · 72 Stat. 396
  • 1959Amended · Pub. L. 86-251 · 73 Stat. 489
  • 1961Amended · Pub. L. 87-70 · 75 Stat. 188, 191
  • 1962Amended · Pub. L. 87-717 · 76 Stat. 662
  • 1964Amended · Pub. L. 88-341 · 78 Stat. 233
  • 1964Amended · Pub. L. 88-560 · 78 Stat. 807
  • 1965Amended · Pub. L. 89-117 · 79 Stat. 465, 509
  • 1966Amended · Pub. L. 89-754 · 80 Stat. 1277
  • 1967Amended · Pub. L. 90-19 · 81 Stat. 28
  • 1968Amended · Pub. L. 90-448 · 82 Stat. 518, 609
  • 1970Amended · Pub. L. 91-351 · 84 Stat. 462
  • 1970Amended · Pub. L. 91-609 · 84 Stat. 1803
  • 1974Amended · Pub. L. 93-383 · 88 Stat. 716, 725
  • 1982Amended · Pub. L. 97-320 · 96 Stat. 1510
  • 1991Amended · Pub. L. 102-242 · 105 Stat. 2354

A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.

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