Browse Arkansas Code titles and sections

42 U.S.C. § 3538 — Rescheduling and refinancing of Federal loans

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 3538 — Rescheduling and refinancing of Federal loans

The Secretary of Housing and Urban Development is authorized to refinance any note or other obligation which is held by him in connection with any loan made by the Department of Housing and Urban Development or its predecessor in interest, or which is included within the revolving fund for liquidating programs established by the Independent Offices Appropriation Act of 1955 [[12 U.S.C. 1701g–5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701g–5&num=0&edition=prelim)], where he finds such refinancing necessary because of the loss, destruction, or damage (as a result of a major disaster) to property or facilities securing such obligations. The Secretary may authorize a suspension in the payment of principal and interest charges on, and an additional extension in the maturity of, any such loan for a period not to exceed five years if he determines that such action is necessary to avoid severe financial hardship.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 3538

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: 04bdd5693e044d53f46d716beeea47056086c5f2edeec00b9ebeb62b15da9e15. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_46c97d8683c54c17eedb0929
Source file: Laws/federal/codes/united-states-code/title-42/section-3538-rescheduling-and-refinancing-of-federal-loans--dc1dd3d125.md
Pages: Not recorded – Not recorded
Passage SHA-256: b936919cb97f5900f3f57c912e374c959dd2dfd0fbe28c421f1b81357ea560ff

Source location: Title 42, Chapter 44, § 3538; chapter-044-department-of-housing-and-urban-development.md

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 165 — Losses

**(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

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1701g–5 — Insurance of loans for manufacture of houses

**(a) Relief of housing shortage; advances** In order to assist in relieving the acute shortage of housing which now exists and to promote the production of housing for veterans of World War II at moderate prices or rentals within their reasonable ability to pay, through the application of modern industrial processes, the Secretary is authorized to insure loans to finance the manufacture of housing (including advances on such loans) when such loans are eligible for insurance as hereinafter provided. **(b) Eligibility requirements** Loans for the manufacture of houses shall be eligible for insurance under this section if at the time of such insurance, the Secretary determines they meet the following conditions: (1) The manufacturer shall establish that binding purchase contracts have been executed satisfactory to the Secretary providing for the purchase and delivery of the houses to be manufactured, which contracts shall provide for the payment of the purchase price at such time as may be agreed to by the parties thereto, but, in no event, shall the purchase price be payable on a date in excess of thirty days after the date of delivery of such houses, unless not less than 20 per centum of such purchase price is paid on or before the date of delivery and the lender has accepted and discounted or has agreed to accept and discount, pursuant to subsection (i) of this section a promissory note or notes, executed by the purchaser, representing the unpaid portion of such purchase price, in which event such unpaid portion of the purchase price may be payable on a date not in excess of one hundred and eighty days from the date of delivery of such houses; (2) Such houses to be manufactured shall meet such requirements of sound quality, durability, livability, and safety as may

Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701g–5

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 1855aa to 1855ii — Repealed. Pub. L. 91–606, title III, § 302(2), Dec. 31, 1970, 84 Stat. 1759

### Statutory Notes Section 1855aa, Pub. L. 89–769, § 2, Nov. 6, 1966, 80 Stat. 1316, defined “major disaster.” Pub. L. 89–769, §§ 1, 14, Nov. 6, 1966, 80 Stat. 1316, 1321, set out as notes under [section 1855aa of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1855aa&num=0&edition=prelim), gave the name “Disaster Relief Act of 1966” to Pub. L. 89–769, and provided for effective date of such act. Section 1855bb, Pub. L. 89–769, § 3(a), Nov. 6, 1966, 80 Stat. 1316, called for rescheduling and refinancing of Federal loans in event of a major disaster. See [section 3538 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3538&num=0&edition=prelim) and [section 912a of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912a&num=0&edition=prelim), Agriculture. Section 1855cc, Pub. L. 89–769, § 5, Nov. 6, 1966, 80 Stat. 1317, authorized Secretary of Defense to make available facilities of civil defense communications system in case of imminent natural disasters. Section 1855dd, Pub. L. 89–769, § 8, Nov. 6, 1966, 80 Stat. 1320, set out order of priorities to be followed in processing applications for public facility and public housing assistance in major disaster areas. Section 1855ee, Pub. L. 89–769, § 9, Nov. 6, 1966, 80 Stat. 1320, provided for reimbursement of costs of reconstruction of public facilities, eligible costs, and agencies and parties entitled to reimbursement. Section 1855ff, Pub. L. 89–769, § 10, Nov. 6, 1966, 80 Stat. 1320, directed department heads to administer programs covering major disasters so that there is no duplication of efforts between various programs. Section 1855gg, Pub. L. 89–769, § 11, Nov. 6, 1966, 80 Stat. 1321, provided f

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 1855aa to 1855ii

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 4453 to 4456 — Transferred

### Statutory Notes #### Codification Section 4453, Pub. L. 91–606, title II, § 234, Dec. 31, 1970, 84 Stat. 1754, which related to disaster loan interest rates, was transferred to [section 636b of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636b&num=0&edition=prelim), Commerce and Trade. Section 4454, Pub. L. 91–606, title II, § 235, Dec. 31, 1970, 84 Stat. 1754, which related to prohibition on consideration of age of applicant for disaster loans, was transferred to [section 636c of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636c&num=0&edition=prelim). Section 4455(a), Pub. L. 91–606, title II, § 236(a), Dec. 31, 1970, 84 Stat. 1754, which related to authority of the Secretary of Agriculture to reschedule and refinance Federal loans under the Rural Electrification Administration, was transferred to [section 912a of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912a&num=0&edition=prelim), Agriculture. Section 4455(b), Pub. L. 91–606, title II, § 236(b), Dec. 31, 1970, 84 Stat. 1754, which related to authority of the Secretary of Housing and Urban Development to reschedule and refinance Federal loans, was transferred to [section 3538 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3538&num=0&edition=prelim). Section 4456, Pub. L. 91–606, title II, § 237, Dec. 31, 1970, 84 Stat. 1754, which related to disaster aid to major sources of employment, was transferred to [section 636d of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636d&num=0&edition=prelim), Commerce and Trade.

Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 4453 to 4456

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1701g — Untitled legal text

Page 433 TITLE 12—BANKS AND BANKING § 1701g–5 tive studies with industry, labor, etc.; and exercise of powers by Secretary. See sections 1701z–1 to 1701z–4 of this title. § 1701f–1. Repealed. Pub. L. 90–19, § 5(c), May 25, 1967, 81 Stat. 21 Section, act Aug. 10, 1948, ch. 832, title III, § 304, as added July 15, 1949, ch. 338, title IV, § 401, 63 Stat. 431, provided for appointment, powers, and compensation of a Director. Section was previously repealed by Pub. L. 89–534, § 8(a), Sept. 6, 1966, 80 Stat. 655. §§ 1701g to 1701g–3. Omitted Editorial Notes CODIFICATION Sections 1701g to 1701g–3 were from sections 102 to 102c of the Housing Act of 1948, and provided for loans to aid production and distribution of prefabricated housing; provided for loans to assure maintenance of industrial capacity for production of such homes for national defense; provided for the powers of the Hous- ing and Home Finance Administrator; and included mo- bile or portable houses within the term ‘‘prefabricated houses’’. Authority for issuance of section 1701g obliga- tions under section 1(4) of Reorg. Plan No. 23 of 1950 as terminating June 30, 1954, see section 1701g–5 of this title. Authority to make or purchase section 1701g–1 loans or obligations as terminating July 31, 1954, see section 1591c of Title 42, The Public Health and Welfare. Section 1701g, act Aug. 10, 1948, ch. 832, title I, § 102, 62 Stat. 1275, amended Sept. 1, 1951, ch. 378, title V, § 501, 65 Stat. 311. Section 1701g–1, act Aug. 10, 1948, ch. 832, title I, § 102a, added Sept. 1, 1951, ch. 378, title V, § 502, 65 Stat. 312. Section 1701g–2, act Aug. 10, 1948, ch. 832, title I, § 102b, added Sept. 1, 1951, ch. 378, title V, § 502, 65 Stat. 312; amended July 14, 1952, ch. 723, § 10(e), 66 Stat. 6

Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1701g

Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1701g. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 3538 — Rescheduling and refinancing of Federal

Page 5935 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 3539 partment of Housing and Urban Development, the Secretary may not make lump-sum pay- ments to any displaced residential tenant, ex- cept where necessary to cover— (1) moving expenses; (2) a downpayment on the purchase of a re- placement residence, including a condo- minium unit or membership in a cooperative housing association; or (3) any incidental expenses related to para- graph (1) or (2). (Pub. L. 89–174, § 14, as added Pub. L. 102–550, title IX, § 922, Oct. 28, 1992, 106 Stat. 3884.) § 3538. Rescheduling and refinancing of Federal loans The Secretary of Housing and Urban Develop- ment is authorized to refinance any note or other obligation which is held by him in connec- tion with any loan made by the Department of Housing and Urban Development or its prede- cessor in interest, or which is included within the revolving fund for liquidating programs es- tablished by the Independent Offices Appropria- tion Act of 1955 [12 U.S.C. 1701g–5], where he finds such refinancing necessary because of the loss, destruction, or damage (as a result of a major disaster) to property or facilities securing such obligations. The Secretary may authorize a suspension in the payment of principal and in- terest charges on, and an additional extension in the maturity of, any such loan for a period not to exceed five years if he determines that such action is necessary to avoid severe financial hardship. (Pub. L. 91–606, title II, § 236(b), Dec. 31, 1970, 84 Stat. 1754.) Editorial Notes REFERENCES IN TEXT The Independent Offices Appropriation Act of 1955, re- ferred to in text, is act June 24, 1954, ch. 359, 68 Stat. 272. Provisions of the act which established the revolv- ing fund for liquidating program

Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 3538

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.