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12 U.S.C. § 4541 — Regulations and orders

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

12 U.S.C. § 4541 — Regulations and orders

**(a) Authority** The Director shall issue any regulations, guidelines, or orders necessary to carry out the duties of the Director under this chapter or the authorizing statutes, and to ensure that the purposes of this chapter and the authorizing statutes are accomplished. **(b) Notice and comment** Any regulations issued by the Director under this section shall be issued after notice and opportunity for public comment pursuant to the provisions of [section 553 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section553&num=0&edition=prelim).

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Stable record: federal_law:legal_authorities:record_usc_5e6ade089e497b171d04ae1a
Source file: Laws/federal/codes/united-states-code/title-12/section-4541-regulations-and-orders--6eae03211e.md
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Source location: Title 12, Chapter 46, § 4541; chapter-046-government-sponsored-enterprises.md

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**(a) Authority** The Director shall issue any regulations, guidelines, or orders necessary to carry out the duties of the Director under this chapter or the authorizing statutes, and to ensure that the purposes of this chapter and the authorizing statutes are accomplished. **(b) Notice and comment** Any regulations issued by the Director under this section shall be issued after notice and opportunity for public comment pursuant to the provisions of [section 553 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section553&num=0&edition=prelim).

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

12 U.S.C. § 4512 — Definitions

For purposes of this chapter: (1) **Affiliate** — Except as provided by the Director, the term “affiliate” means any entity that controls, is controlled by, or is under common control with, an enterprise. (2) **Agency** — The term “Agency” means the Federal Housing Finance Agency established under [section 4511 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4511&num=0&edition=prelim). (3) **Authorizing statutes** — The term “authorizing statutes” means— (A) the Federal National Mortgage Association Charter Act; (B) the Federal Home Loan Mortgage Corporation Act; and (C) the Federal Home Loan Bank Act. (4) **Board** — The term “Board” means the Federal Housing Finance Oversight Board established under [section 4513a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4513a&num=0&edition=prelim). (5) **Capital distribution** (A) *In general* — The term “capital distribution” means— (i) any dividend or other distribution in cash or in kind made with respect to any shares of, or other ownership interest in, an enterprise, except a dividend consisting only of shares of the enterprise; (ii) any payment made by an enterprise to repurchase, redeem, retire, or otherwise acquire any of its shares, including any extension of credit made to finance an acquisition by the enterprise of such shares; and (iii) any transaction that the Director determines by regulation to be, in substance, the distribution of capital. (B) *Exception* — Any payment made by an enterprise to repurchase its shares for the purpose of fulfilling an obligation of the enterprise under an employee stock ownership plan that is qualified under [section 401 of title 26](https://uscode.house.gov/view

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

12 U.S.C. § 4501 — Notice of service

Any service required or authorized to be made by the Director under this subchapter may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Director may by regulation or otherwise provide.

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

12 U.S.C. § 4513 — Protection of taxpayers against liability

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.

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

5 U.S.C. § 553 — Rule making

**(a)** This section applies, according to the provisions thereof, except to the extent that there is involved— (1) a military or foreign affairs function of the United States; or (2) a matter relating to agency management or personnel or to public property, loans, grants, benefits, or contracts. **(b)** General notice of proposed rule making shall be published in the Federal Register, unless persons subject thereto are named and either personally served or otherwise have actual notice thereof in accordance with law. The notice shall include— (1) a statement of the time, place, and nature of public rule making proceedings; (2) reference to the legal authority under which the rule is proposed; (3) either the terms or substance of the proposed rule or a description of the subjects and issues involved; and (4) the Internet address of a summary of not more than 100 words in length of the proposed rule, in plain language, that shall be posted on the Internet website under section 206(d) of the E-Government Act of 2002 ([44 U.S.C. 3501](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section3501&num=0&edition=prelim) note) (commonly known as regulations.gov). Except when notice or hearing is required by statute, this subsection does not apply— (A) to interpretative rules, general statements of policy, or rules of agency organization, procedure, or practice; or (B) when the agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. **(c)** After notice required by this section, the agency shall give interested persons an opportunity to participate in the rule making through subm

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

12 U.S.C. § 4541 — Prior approval authority for products

Page 1662 TITLE 12—BANKS AND BANKING § 4526 § 4526. Regulations and orders (a) Authority The Director shall issue any regulations, guidelines, or orders necessary to carry out the duties of the Director under this chapter or the authorizing statutes, and to ensure that the pur- poses of this chapter and the authorizing stat- utes are accomplished. (b) Notice and comment Any regulations issued by the Director under this section shall be issued after notice and op- portunity for public comment pursuant to the provisions of section 553 of title 5. (Pub. L. 102–550, title XIII, § 1319G, Oct. 28, 1992, 106 Stat. 3952; Pub. L. 110–289, div. A, title I, § 1107, July 30, 2008, 122 Stat. 2672.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (a), was in the original ‘‘this title’’, meaning title XIII of Pub. L. 102–550, Oct. 28, 1992, 106 Stat. 3941, which is classified principally to this chapter. For complete classification of title XIII to the Code, see Short Title note set out under section 4501 of this title and Tables. AMENDMENTS 2008—Subsec. (a). Pub. L. 110–289, § 1107(1), added sub- sec. (a) and struck out former subsec. (a). Prior to amendment, text read as follows: ‘‘The Director shall issue any regulations and orders necessary to carry out the duties of the Director and to carry out this chapter before the expiration of the 18-month period beginning on the appointment of the Director under section 4512 of this title. Such regulations and orders shall be sub- ject to the approval of the Secretary only to the extent provided in subsections (b) and (c) of section 4513 of this title.’’ Subsec. (c). Pub. L. 110–289, § 1107(2), struck out sub- sec. (c). Text read as follows: ‘‘The Director may not publish any regulation

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