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38 U.S.C. § 3720 — Powers of Secretary
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Except as provided in subsection (h), notwithstanding the provisions of any other law, with respect to matters arising by reason of this chapter, the Secretary may—
(1) sue and be sued in the Secretary’s official capacity in any court of competent jurisdiction, State or Federal, but nothing in this clause shall be construed as authorizing garnishment or attachment against the Secretary, the Department of Veterans Affairs, or any of its employees;
(2) subject to specific limitations in this chapter, consent to the modification, with respect to rate of interest, time of payment of principal or interest or any portion thereof, security or other provisions of any note, contract, mortgage or other instrument securing a loan which has been guaranteed, insured, made or acquired under this chapter;
(3) pay, or compromise, any claim on, or arising because of, any such guaranty or insurance;
(4) pay, compromise, waive or release any right, title, claim, lien or demand, however acquired, including any equity or any right of redemption;
(5) purchase at any sale, public or private, upon such terms and for such prices as the Secretary determines to be reasonable, and take title to, property, real, personal or mixed; and similarly sell, at public or private sale, exchange, assign, convey, or otherwise dispose of any such property; and
(6) complete, administer, operate, obtain and pay for insurance on, and maintain, renovate, repair, modernize, lease, or otherwise deal with any property acquired or held pursuant to this chapter. The acquisition of any such property shall not deprive any State or political subdivision thereof of its civil or criminal jurisdiction of, on, or over such property (including power to tax) or impair the rights under the State or local law of any
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Stable record: federal_law:legal_authorities:record_usc_467ffaffa8bdad257125d76c
Source file: Laws/federal/codes/united-states-code/title-38/section-3720-powers-of-secretary--2c56c13bcd.md
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Source location: Title 38, Chapter 37, § 3720; chapter-037-housing-and-small-business-loans.md
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**(a)** Except as provided in subsection (h), notwithstanding the provisions of any other law, with respect to matters arising by reason of this chapter, the Secretary may—
(1) sue and be sued in the Secretary’s official capacity in any court of competent jurisdiction, State or Federal, but nothing in this clause shall be construed as authorizing garnishment or attachment against the Secretary, the Department of Veterans Affairs, or any of its employees;
(2) subject to specific limitations in this chapter, consent to the modification, with respect to rate of interest, time of payment of principal or interest or any portion thereof, security or other provisions of any note, contract, mortgage or other instrument securing a loan which has been guaranteed, insured, made or acquired under this chapter;
(3) pay, or compromise, any claim on, or arising because of, any such guaranty or insurance;
(4) pay, compromise, waive or release any right, title, claim, lien or demand, however acquired, including any equity or any right of redemption;
(5) purchase at any sale, public or private, upon such terms and for such prices as the Secretary determines to be reasonable, and take title to, property, real, personal or mixed; and similarly sell, at public or private sale, exchange, assign, convey, or otherwise dispose of any such property; and
(6) complete, administer, operate, obtain and pay for insurance on, and maintain, renovate, repair, modernize, lease, or otherwise deal with any property acquired or held pursuant to this chapter. The acquisition of any such property shall not deprive any State or political subdivision thereof of its civil or criminal jurisdiction of, on, or over such property (including power to tax) or impair the rights under the State or local law of any persons on such property. Without regard to [section 3302(b) of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3302/b&num=0&edition=prelim) or any other provision of law not expressly in limitation of this paragraph, the Secretary may permit brokers utilized by the Secretary in connection with such properties to deduct from rental collections amounts covering authorized fees, costs, and expenses incurred in connection with the management, repair, sale, or lease of any such properties and remit the net balances to the Secretary.
**(b)** The powers granted by this section may be exercised by the Secretary without regard to any other provision of law not enacted expressly in limitation of this section, which otherwise would govern the expenditure of public funds, except that division C (except sections 3302, 3501(b), 3509, 3906, 4710, and 4711) of subtitle I of title 41 shall apply to any contract for services or supplies on account of any property acquired pursuant to this section.
**(c)** The financial transactions of the Secretary incident to, or arising out of, the guaranty or insurance of loans pursuant to this chapter, and the acquisition, management, and disposition of property, real, personal, or mixed, incident to such activities and pursuant to this section, shall be final and conclusive upon all officers of the Government.
**(d)** The right to redeem provided for by [section 2410(c) of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section2410/c&num=0&edition=prelim) shall not arise in any case in which the subordinate lien or interest of the United States derives from a guaranteed or insured loan.
**(e)** Whenever loss, destruction, or damage to any residential property securing loans guaranteed, insured, made, or acquired by the Secretary under this chapter occurs as the result of a major disaster as determined by the President under the Disaster Relief and Emergency Assistance Act ([42 U.S.C. 5121](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section5121&num=0&edition=prelim) et seq.), the Secretary shall (1) provide counseling and such other service to the owner of such property as may be feasible and shall inform such owner concerning the disaster assistance available from other Federal agencies and from State or local agencies, and (2) pursuant to subsection (a)(2) of this section, extend on an individual case basis such forebearance or indulgence to such owner as the Secretary determines to be warranted by the facts of the case and the circumstances of such owner.
**(f)** The Secretary shall, at the request of the Secretary of Housing and Urban Development and without reimbursement, certify to such Secretary whether an applicant for assistance under any law administered by the Department of Housing and Urban Development is a veteran.
**(g)** The Secretary may, upon such terms and conditions as the Secretary considers appropriate, issue or approve the issuance of, and guarantee the timely payment of principal and interest on, certificates or other securities evidencing an interest in a pool of mortgage loans made in connection with the sale of properties acquired under this chapter.
**(h)** The Secretary may not take any action under paragraph (2), (3), (4), or (5) of subsection (a) in conjunction with the purchase of a loan under [section 3732(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3732/a/2&num=0&edition=prelim) unless the Secretary determines the purchase would be made consistent with [section 3732(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3732/d&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.
**(b) Amount of deduction** For purposes of subsection (a), the basis for determining the amount of the deduction for any loss shall be the adjusted basis provided in section 1011 for determining the loss from the sale or other disposition of property.
**(c) Limitation on losses of individuals** In the case of an individual, the deduction under subsection (a) shall be limited to—
(1) losses incurred in a trade or business;
(2) losses incurred in any transaction entered into for profit, though not connected with a trade or business; and
(3) except as provided in subsection (h), losses of property not connected with a trade or business or a transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft.
**(d) Wagering losses**
(1) **In general** — For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year—
(A) shall be equal to 90 percent of the amount of such losses during such taxable year, and
(B) shall be allowed only to the extent of the gains from such transactions during such taxable year.
(2) **Special rule** — For purposes of paragraph (1), the term “losses from wagering transactions” includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction.
**(e) Theft losses** For purposes of subsection (a), any loss arising from theft shall be treated as sustained during the taxable year in which the taxpayer discovers such loss.
**(f) Capital losses** Losses from sales or exchanges of capital assets shall be allowed only to the extent allowed in sections
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 165
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) The Secretary (subject to paragraph (4)) shall furnish hospital care and medical services which the Secretary determines to be needed—
(A) to any veteran for a service-connected disability; and
(B) to any veteran who has a service-connected disability rated at 50 percent or more.
(2) The Secretary (subject to paragraph (4)) shall furnish hospital care and medical services, and may furnish nursing home care, which the Secretary determines to be needed to any veteran—
(A) who has a compensable service-connected disability rated less than 50 percent or, with respect to nursing home care during any period during which the provisions of [section 1710A(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section1710A/a&num=0&edition=prelim) are in effect, a compensable service-connected disability rated less than 70 percent;
(B) whose discharge or release from active military, naval, air, or space service was for a disability that was incurred or aggravated in the line of duty;
(C) who is in receipt of, or who, but for a suspension pursuant to [section 1151 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section1151&num=0&edition=prelim) (or both a suspension and the receipt of retired pay), would be entitled to disability compensation, but only to the extent that such veteran’s continuing eligibility for such care is provided for in the judgment or settlement provided for in such section;
(D) who is a former prisoner of war, who was awarded the medal of honor under section 7271, 8291, or 9271 of title 10 or section 491 11 See References in Text note below. of title 14, or who was awarded the Purple Heart;
(E) who is a veteran of—
(i) the Mexican border period;
(
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 1710
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For the purpose of this chapter, the term “housing loan” means a loan for any of the purposes specified by sections 3710(a) and 3712(a)(1) of this title.
**(b)** For the purposes of housing loans under this chapter—
(1) The term “World War II” (A) means the period beginning on September 16, 1940, and ending on July 25, 1947, and (B) includes, in the case of any veteran who enlisted or reenlisted in a Regular component of the Armed Forces after October 6, 1945, and before October 7, 1946, the period of the first such enlistment or reenlistment.
(2) The term “veteran” includes the surviving spouse of any veteran (including a person who died in the active military, naval, air, or space service) who died from a service-connected disability, but only if such surviving spouse is not eligible for benefits under this chapter on the basis of the spouse’s own active duty. The active duty or service in the Selected Reserve of the deceased spouse shall be deemed to have been active duty or service in the Selected Reserve by such surviving spouse for the purposes of this chapter.
(3) The term “veteran” also includes, for purposes of home loans, the spouse of any member of the Armed Forces serving on active duty who is listed, pursuant to [section 556 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section556&num=0&edition=prelim), United States Code, and regulations issued thereunder, by the Secretary concerned in one or more of the following categories and has been so listed for a total of more than ninety days: (A) missing in action, (B) captured in line of duty by a hostile force, or (C) forcibly detained or interned in line of duty by a foreign government or power. The active duty of the member shall be deemed to have been active dut
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3701
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Federal law — U.S. Code and appendices · legal_authorities
Moneys in the Fund not needed for the current operations of the Department of Housing and Urban Development related to insurance under [section 1709 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709&num=0&edition=prelim) shall be deposited with the Treasurer of the United States to the credit of the Fund, or invested in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States or any agency of the United States: Provided, That such moneys shall to the maximum extent feasible be invested in such bonds or other obligations the proceeds of which will be used to directly support the residential mortgage market. The Secretary may, with the approval of the Secretary of the Treasury, purchase in the open market debentures issued under the provisions of [section 1710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1710&num=0&edition=prelim). Such purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued, and the several group accounts to which such debentures have been charged shall be charged with the amounts used in making such purchases.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1717
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress hereby finds and declares that—
(1) because disasters often cause loss of life, human suffering, loss of income, and property loss and damage; and
(2) because disasters often disrupt the normal functioning of governments and communities, and adversely affect individuals and families with great severity;
special measures, designed to assist the efforts of the affected States in expediting the rendering of aid, assistance, and emergency services, and the reconstruction and rehabilitation of devastated areas, are necessary.
**(b)** It is the intent of the Congress, by this chapter, to provide an orderly and continuing means of assistance by the Federal Government to State and local governments in carrying out their responsibilities to alleviate the suffering and damage which result from such disasters by—
(1) revising and broadening the scope of existing disaster relief programs;
(2) encouraging the development of comprehensive disaster preparedness and assistance plans, programs, capabilities, and organizations by the States and by local governments;
(3) achieving greater coordination and responsiveness of disaster preparedness and relief programs;
(4) encouraging individuals, States, and local governments to protect themselves by obtaining insurance coverage to supplement or replace governmental assistance;
(5) encouraging hazard mitigation measures to reduce losses from disasters, including development of land use and construction regulations;
(6) providing Federal assistance programs for both public and private losses sustained in disasters; and
(7) identifying and improving the climate and natural hazard resilience of vulnerable communities.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 5121
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Whenever any veteran disposes of residential property securing a guaranteed, insured, or direct housing loan obtained by the veteran, the Secretary, upon application made by such veteran and by the transferee incident to such disposal, shall issue to such veteran in connection with such disposal a release relieving the veteran of all further liability to the Secretary on account of such loan (including liability for any loss resulting from any default of the transferee or any subsequent purchaser of such property) if the Secretary has determined, after such investigation as the Secretary may deem appropriate, that (1) the loan is current, and (2) the purchaser of such property from such veteran (A) is obligated by contract to purchase such property and to assume full liability for the repayment of the balance of the loan remaining unpaid, and has assumed by contract all of the obligations of the veteran under the terms of the instruments creating and securing the loan, and (B) qualifies from a credit standpoint, to the same extent as if the transferee were a veteran eligible for purposes specified in [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim), for a guaranteed or insured or direct loan in an amount equal to the unpaid balance of the obligation for which the transferee has assumed liability.
**(b)** If any veteran disposes of residential property securing a guaranteed, insured, or direct housing loan obtained by the veteran under this chapter without receiving a release from liability with respect to such loan under subsection (a), and a default subsequently occurs which results in liability of the veteran to the Secretary on account of the loan, the Secretary may relieve th
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3713
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary shall insure any individual under 70 years of age who has received assistance under this chapter against the death of the individual except for an individual who—
(1) elects in writing to not receive insurance under this section;
(2) fails to respond in a timely manner to a request from the Secretary for information on which the premium for such insurance can be based; or
(3) receives such assistance under [section 2102B of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section2102b&num=0&edition=prelim).
**(b)** The amount of insurance provided an individual under this section may not exceed the lesser of $150,000, or after January 1, 2012, $200,000, or the amount of the loan outstanding on the housing unit. The amount of such insurance shall be reduced according to the amortization schedule of the loan and may not at any time exceed the amount of the outstanding loan with interest. If there is no outstanding loan on the housing unit, insurance is not payable under this section. If an eligible individual elects not to be insured under this section, the individual may thereafter be insured under this section, but only upon submission of an application, payment of required premiums, and compliance with such health requirements and other terms and conditions as may be prescribed by the Secretary.
**(c)** The premiums charged an individual for insurance under this section shall be paid at such time and in such manner as the Secretary prescribes. The rates for such premiums shall be based on such mortality data as the Secretary considers appropriate to cover only the mortality cost of insuring standard lives. In the case of an individual receiving compensation or other cash benefits paid to the individual by the S
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 2106
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment; abolishment of General Reinsurance Account** The Secretary shall establish as of July 1, 1954, in the Mutual Mortgage Insurance Fund a General Surplus Account and a Participating Reserve Account. All of the assets of the General Reinsurance Account shall be transferred to the General Surplus Account whereupon the General Reinsurance Account shall be abolished. There shall be transferred from the various group accounts to the Participating Reserve Account as of July 1, 1954, an amount equal to the aggregate amount which would have been distributed under the provisions of this section in effect on June 30, 1954, if all outstanding mortgages in such group accounts had been paid in full on said date. All of the remaining balances of said group accounts shall as of said date be transferred to the General Surplus Account whereupon all of said group accounts shall be abolished.
**(b) Credits and charges** The aggregate net income thereafter received or any net loss thereafter sustained by the Mutual Mortgage Insurance Fund in any semiannual period shall be credited or charged to the General Surplus Account and/or the Participating Reserve Account in such manner and amounts as the Secretary may determine to be in accord with sound actuarial and accounting practice.
**(c) Distribution of funds to terminating mortgagors** Upon termination of the insurance obligation of the Mutual Mortgage Insurance Fund by payment of any mortgage insured thereunder, the Secretary is authorized to distribute to the mortgagor a share of the Participating Reserve Account in such manner and amount as the Secretary shall determine to be equitable and in accordance with sound actuarial and accounting practice: Provided, That, in no event, shall any such distributable share exceed
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1716b
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Under the conditions prescribed in this section and [section 1444 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1444&num=0&edition=prelim) for the protection of the United States, the United States may be named a party in any civil action or suit in any district court, or in any State court having jurisdiction of the subject matter—
(1) to quiet title to,
(2) to foreclose a mortgage or other lien upon,
(3) to partition,
(4) to condemn, or
(5) of interpleader or in the nature of interpleader with respect to,
real or personal property on which the United States has or claims a mortgage or other lien.
**(b)** The complaint or pleading shall set forth with particularity the nature of the interest or lien of the United States. In actions or suits involving liens arising under the internal revenue laws, the complaint or pleading shall include the name and address of the taxpayer whose liability created the lien and, if a notice of the tax lien was filed, the identity of the internal revenue office which filed the notice, and the date and place such notice of lien was filed. In actions in the State courts service upon the United States shall be made by serving the process of the court with a copy of the complaint upon the United States attorney for the district in which the action is brought or upon an assistant United States attorney or clerical employee designated by the United States attorney in writing filed with the clerk of the court in which the action is brought and by sending copies of the process and complaint, by registered mail, or by certified mail, to the Attorney General of the United States at Washington, District of Columbia. In such actions the United States may appear and answer, plead or demur withi
Source: Supplied U.S. Code snapshot — release unconfirmed · 28 U.S.C. § 2410
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall prescribe regulations for purposes of the administration of this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 1821
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