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12 U.S.C. § 1746 — Partition of Federal National Mortgage Association into Federal National Mortgage Association and Government National Mortgage Association; assets and liabilities; operations
Federal law — U.S. Code and appendices · legal_authorities
The purposes of this title 11 See References in Text note below. include the partition of the Federal National Mortgage Association as heretofore existing into two separate and distinct corporations, each of which shall have continuity and corporate succession as a separated portion of the previously existing corporation. One of such corporations, to be known as Federal National Mortgage Association, will be a Government-sponsored private corporation, will retain the assets and liabilities of the previously existing corporation accounted for under [section 1719 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1719&num=0&edition=prelim), and will continue to operate the secondary market operations authorized by such section 1719. The other, to be known as Government National Mortgage Association, will remain in the Government, will retain the assets and liabilities of the previously existing corporation accounted for under sections 1720 1 and 1721 of this title, and will continue to operate the special assistance functions and management and liquidating functions authorized by such sections 1720 1 and 1721.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1746-partition-of-federal-national-mortgage-association-into-federal-national--cd5dde30fb.md
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Source location: Title 12, Chapter 13, § 1746; chapter-013-national-housing.md
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The purposes of this title 11 See References in Text note below. include the partition of the Federal National Mortgage Association as heretofore existing into two separate and distinct corporations, each of which shall have continuity and corporate succession as a separated portion of the previously existing corporation. One of such corporations, to be known as Federal National Mortgage Association, will be a Government-sponsored private corporation, will retain the assets and liabilities of the previously existing corporation accounted for under [section 1719 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1719&num=0&edition=prelim), and will continue to operate the secondary market operations authorized by such section 1719. The other, to be known as Government National Mortgage Association, will remain in the Government, will retain the assets and liabilities of the previously existing corporation accounted for under sections 1720 1 and 1721 of this title, and will continue to operate the special assistance functions and management and liquidating functions authorized by such sections 1720 1 and 1721.
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Federal law — U.S. Code and appendices · legal_authorities
Whoever, except as permitted by the laws of the United States, uses the words “national”, “Federal”, “United States”, “reserve”, or “Deposit Insurance” as part of the business or firm name of a person, corporation, partnership, business trust, association or other business entity engaged in the banking, loan, building and loan, brokerage, factorage, insurance, indemnity, savings or trust business; or
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary shall cause to be made in connection with the insurance programs such statistical surveys and legal and economic studies as he shall deem useful to guide the development of housing and the creation of a sound mortgage market in the United States, and shall publish from time to time the results of such surveys and studies. Expenses of such studies and surveys, and expenses of publication and distribution of the results of such studies and surveys, shall be charged as a general expense of such insurance fund or funds, as the Secretary shall determine.
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Federal law — U.S. Code and appendices · legal_authorities
Nothing in this subchapter shall be construed to exempt any real property acquired and held by the Secretary under this subchapter from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act June 27, 1934, ch. 847, title II, § 210, as added by act Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22, related to additional housing insurance.
#### Applications Prior to Repeal
Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an application has been filed with him prior to the effective date of this act [June 3, 1939].”
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Federal law — U.S. Code and appendices · legal_authorities
Page 819
TITLE 12—BANKS AND BANKING
§ 1746
tions’’ note under section 1523 of Title 42, The Public
Health and Welfare.
Public Law 671, Seventy-sixth Congress, referred to in
text, is act June 28, 1940, ch. 440, 54 Stat. 676. Provisions
of the Act relating to housing are contained in title II,
which is classified generally to subchapter I (§ 1501 et
seq.) of chapter 9 of Title 42. For complete classifica-
tion of this Act to the Code, see Tables.
The Emergency Relief Appropriation Act of 1935, re-
ferred to in text, is Joint Res. Apr. 8, 1935, ch. 48, 49
Stat. 115. It was a temporary legislation, and was for-
merly set out in a note in former chapter 16 of Title 15,
Commerce and Trade. See notes under sections 721 to
728 of that title.
AMENDMENTS
1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com-
missioner’’ wherever appearing, and ‘‘Secretary’’ for
‘‘Public Housing Administration’’ and ‘‘said Adminis-
tration’’ in second par., respectively.
1952—Act July 14, 1952, inserted last par.
1950—Act Apr. 20, 1950, § 120, made the insurance au-
thority of this section applicable to sale by the Public
Housing Administration, or any public housing agency,
of any housing owned or financially assisted pursuant
to the provisions of sections 1501 to 1505 of Title 42. The
Public Health and Welfare, which provided for the con-
struction of war housing out of prior authorizations for
low-rent public housing on the condition that such
housing would be converted to low-rent use after termi-
nation of its use for war housing.
Act Apr. 20, 1950, § 122, substituted ‘‘Commissioner’’
for ‘‘Administrator’’ wherever appearing.
1948—Act Aug. 10, 1948, inserted last par. relating to
the Greenbelt towns.
§ 1746. Insurance on mortgages on large-scale
housing projects
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1746
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