12 U.S.C. § 4503 — Protection of taxpayers against liability
submitted 34 years ago by Pub. L. 102-550 to r/title-12-BANKS-AND-BANKING · 103 words · no verdicts yet
This section says that this chapter does not obligate the Federal Government to fund or guarantee the listed housing-finance enterprises or Banks. It also says their obligations and securities are not backed by the United States’ full faith and credit.
This chapter may not be construed as obligating the Federal Government, either directly or indirectly, to provide any funds to the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Federal Home Loan Banks, or to honor, reimburse, or otherwise guarantee any obligation or liability of the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Federal Home Loan Banks. This chapter may not be construed as implying that any such enterprise* or Bank, or any obligations or securities of such an enterprise or Bank, are backed by the full faith and credit* of the United States.
This chapter may not be construed as obligating the Federal Government, either directly or indirectly, to provide any funds to the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Federal Home Loan Banks, or to honor, reimburse, or otherwise guarantee any obligation or liability of the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Federal Home Loan Banks. This chapter may not be construed as implying that any such enterprise* or Bank, or any obligations or securities of such an enterprise or Bank, are backed by the full faith and credit* of the United States.
Source credit: (Pub. L. 102–550, title XIII, § 1304, Oct. 28, 1992, 106 Stat. 3944.)
- 1992Enacted · Pub. L. 102-550 · 106 Stat. 3944
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-550 on 1992-10-28.
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