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12 U.S.C. § 1462a — Administrative provisions
Federal law — U.S. Code and appendices · legal_authorities
**(a) Powers** In accordance with subtitle A of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the appropriate Federal banking agency shall have all powers which—
(1) were vested in the Federal Home Loan Bank Board (in the Board’s capacity as such) or the Chairman of such Board on the day before the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 [Aug. 9, 1989]; and
(2) were not—
(A) transferred to the Federal Deposit Insurance Corporation, the Federal Housing Finance Board, the Resolution Trust Corporation, or the Federal Home Loan Mortgage Corporation pursuant to any amendment made by such Act; or
(B) established under any provision of law repealed by such Act.
**(b) State homestead provisions** No provision of this chapter or any other provision of law administered by the appropriate Federal banking agency shall be construed as superseding any homestead provision of any State constitution, including any implementing State statute, in effect on September 29, 1994, or any subsequent amendment to such a State constitutional or statutory provision in effect on September 29, 1994, that exempts the homestead of any person from foreclosure, or forced sale, for the payment of all debts, other than a purchase money obligation relating to the homestead, taxes due on the homestead, or an obligation arising from work and material used in constructing improvements on the homestead.
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Source location: Title 12, Chapter 12, § 1462a; chapter-012-savings-associations.md
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**(a) Powers** In accordance with subtitle A of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the appropriate Federal banking agency shall have all powers which—
(1) were vested in the Federal Home Loan Bank Board (in the Board’s capacity as such) or the Chairman of such Board on the day before the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 [Aug. 9, 1989]; and
(2) were not—
(A) transferred to the Federal Deposit Insurance Corporation, the Federal Housing Finance Board, the Resolution Trust Corporation, or the Federal Home Loan Mortgage Corporation pursuant to any amendment made by such Act; or
(B) established under any provision of law repealed by such Act.
**(b) State homestead provisions** No provision of this chapter or any other provision of law administered by the appropriate Federal banking agency shall be construed as superseding any homestead provision of any State constitution, including any implementing State statute, in effect on September 29, 1994, or any subsequent amendment to such a State constitutional or statutory provision in effect on September 29, 1994, that exempts the homestead of any person from foreclosure, or forced sale, for the payment of all debts, other than a purchase money obligation relating to the homestead, taxes due on the homestead, or an obligation arising from work and material used in constructing improvements on the homestead.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this subchapter—
(1) the term “agency” means any executive department, military department, Government corporation, Government controlled corporation, or other establishment in the executive branch of the Government (including the Executive Office of the President), or any independent regulatory agency, but does not include—
(A) the Government Accountability Office;
(B) Federal Election Commission;
(C) the governments of the District of Columbia and of the territories and possessions of the United States, and their various subdivisions; or
(D) Government-owned contractor-operated facilities, including laboratories engaged in national defense research and production activities;
(2) the term “burden” means time, effort, or financial resources expended by persons to generate, maintain, or provide information to or for a Federal agency, including the resources expended for—
(A) reviewing instructions;
(B) acquiring, installing, and utilizing technology and systems;
(C) adjusting the existing ways to comply with any previously applicable instructions and requirements;
(D) searching data sources;
(E) completing and reviewing the collection of information; and
(F) transmitting, or otherwise disclosing the information;
(3) the term “collection of information”—
(A) means the obtaining, causing to be obtained, soliciting, or requiring the disclosure to third parties or the public, of facts or opinions by or for an agency, regardless of form or format, calling for either—
(i) answers to identical questions posed to, or identical reporting or recordkeeping requirements imposed on, ten or more persons, other than agencies, instrumentalities, or employees of the United States; or
(ii) answers to questions posed to agencies, ins
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Criteria for eligibility**
(1) **In general** — Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, savings bank, community development financial institution, or any insured depository institution (as defined in [section 1422 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1422&num=0&edition=prelim)), shall be eligible to become a member of a Federal Home Loan Bank if such institution—
(A) is duly organized under the laws of any State or of the United States;
(B) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994 [[12 U.S.C. 4701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4701&num=0&edition=prelim) et seq.].; 11 So in original. and
(C) makes such home mortgage loans as, in the judgment of the Director, are long-term loans (except that in the case of a savings bank, this subparagraph applies only if, in the judgment of the Director, its time deposits, as defined in [section 461 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section461&num=0&edition=prelim), warrant its making such loans).
(2) **Qualified thrift lender** — An insured depository institution that is not a member on January 1, 1989, may become a member of a Federal Home Loan Bank only if—
(A) the insured depository institution (other than a community financial institution) has at least 10 percent of its total assets in residential
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Repealed. Pub. L. 111–139, title I, § 10(a), Feb. 12, 2010, 124 Stat. 21**
**(b) Student loans** For all student loans under part B or D of title IV of the Higher Education Act of 1965 [[20 U.S.C. 1071](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1071&num=0&edition=prelim) et seq., 1087a et seq.] made during the period when a sequestration order under [section 904 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section904&num=0&edition=prelim) is in effect as required by section 902 or 903 of this title, origination fees under sections 438(c)(2) and (6) and 455(c) [[20 U.S.C. 1087–1(c)(2)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1087–1/c/2&num=0&edition=prelim), (6), 1087e(c)] and loan processing and issuance fees under section 428(f)(1)(A)(ii) of that Act [[20 U.S.C. 1078(f)(1)(A)(ii)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/f/1/A/ii&num=0&edition=prelim)] shall each be increased by the uniform percentage specified in that sequestration order, and, for student loans originated during the period of the sequestration, special allowance payments under section 438(b) of that Act [[20 U.S.C. 1087–1(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1087–1/b&num=0&edition=prelim)] accruing during the period of the sequestration shall be reduced by the uniform percentage specified in that sequestration order.
**(c) Repealed. Pub. L. 111–139, title I, § 10(c), Feb. 12, 2010, 124 Stat. 22**
**(d) Special rules for Medicare program**
(1) **Calculation of reduction in payment amounts** — To achieve the total percentage reduction in those programs required by section 902 or 903 of this title, subject
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Federal law — U.S. Code and appendices · legal_authorities
The President of the United States is authorized to designate and empower the head of any department or agency in the executive branch, or any official thereof who is required to be appointed by and with the advice and consent of the Senate, to perform without approval, ratification, or other action by the President (1) any function which is vested in the President by law, or (2) any function which such officer is required or authorized by law to perform only with or subject to the approval, ratification, or other action of the President: Provided, That nothing contained herein shall relieve the President of his responsibility in office for the acts of any such head or other official designated by him to perform such functions. Such designation and authorization shall be in writing, shall be published in the Federal Register, shall be subject to such terms, conditions, and limitations as the President may deem advisable, and shall be revocable at any time by the President in whole or in part.
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Federal law — U.S. Code and appendices · legal_authorities
Page 356
TITLE 12—BANKS AND BANKING
§ 1462a
(6) State
The term ‘‘State’’ has the same meaning as
in section 3 of the Federal Deposit Insurance
Act [12 U.S.C. 1813].
(7) Affiliate
The term ‘‘affiliate’’ means any person that
controls, is controlled by, or is under common
control with, a savings association, except as
provided in section 1467a of this title.
(8) Board
The term ‘‘Board’’, other than in the context
of the Board of Directors of the Corporation,
means the Board of Governors of the Federal
Reserve System.
(9) Comptroller
The term ‘‘Comptroller’’ means the Comp-
troller of the Currency.
(10) Appropriate Federal banking agency
The term ‘‘appropriate Federal banking
agency’’ has the same meaning as in section
3(q) of the Federal Deposit Insurance Act (12
U.S.C. 1813(q)).
(11) Functionally regulated subsidiary
The
term
‘‘functionally
regulated
sub-
sidiary’’ has the same meaning as in section
5(c)(5) of the Bank Holding Company Act of
1956 (12 U.S.C. 1844(c)(5)).
(June 13, 1933, ch. 64, § 2, 48 Stat. 128; June 27,
1934, ch. 847, title V, § 508(a), 48 Stat. 1264; May
28, 1935, ch. 150, § 10, 49 Stat. 296; 1947 Reorg. Plan
No. 3, eff. July 27, 1947, 12 F.R. 4981, 61 Stat. 954;
Aug. 11, 1955, ch. 783, title I, § 109(a)(3), 69 Stat.
640; Pub. L. 95–630, title XII, § 1201, Nov. 10, 1978,
92 Stat. 3710; Pub. L. 97–320, title I, § 114(a), Oct.
15, 1982, 96 Stat. 1475; Pub. L. 101–73, title III,
§ 301, Aug. 9, 1989, 103 Stat. 277; Pub. L. 111–203,
title III, § 369(2), title VI, § 604(h)(1), July 21, 2010,
124 Stat. 1557, 1602.)
Editorial Notes
AMENDMENTS
2010—Pars. (1) to (9). Pub. L. 111–203, § 369(2), redesig-
nated pars. (2) and (4) to (9) as (1) and (2) to (7), respec-
tively, added pars. (8) and (9), and struck out former
pa
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