Browse Arkansas Code titles and sections
12 U.S.C. § 1719 — Taxation
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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1719
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: 2450c5d36f4d5af8c358164f4c0ac514ba7460be9e934bfac2238435140d0f29. 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_9440cfb292edea5dde3c560b
Source file: Laws/federal/codes/united-states-code/title-12/section-1719-taxation--be9e108857.md
Pages: Not recorded – Not recorded
Passage SHA-256: a4dfa1cccf05adc8a4c677bd998e88fd2a2792e087803dc9e764186ecebf0b5f
Source location: Title 12, Chapter 13, § 1719; chapter-013-national-housing.md
Stored source content
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.
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
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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746
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
**(a) Creation; succession; principal and other offices**
(1) There is created a body corporate to be known as the “Federal National Mortgage Association”, which shall be in the Department of Housing and Urban Development. The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate in the conduct of its business.
(2) On September 1, 1968, the body corporate described in the foregoing paragraph shall cease to exist in that form and is hereby partitioned into two separate and distinct bodies corporate, each of which shall have continuity and corporate succession as a separated portion of the previously existing body corporate, as follows:
(A) One of such separated portions shall be a body corporate without capital stock to be known as Government National Mortgage Association (hereinafter referred to as the “Association”), which shall be in the Department of Housing and Urban Development and which shall retain the assets and liabilities acquired and incurred under sections 1720 11 See References in Text note below. and 1721 of this title prior to such date, including any and all liabilities incurred pursuant to subsection (c). The Association shall have succession until dissolved by Act of Congress. It shall maintain its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. Agencies or offices may be established by the Association in such other place or places as it may deem necessary or appropriate i
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1746a
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
**(a) Common stock; preferred stock; transferability of shares** The corporation shall have common stock, without par value, which shall be vested with all voting rights, each share being entitled to one vote with rights of cumulative voting at all elections of directors. The corporation may eliminate such rights of cumulative voting by a resolution adopted by its board of directors and approved by the holders of a majority of the shares of common stock voting in person or by proxy at the annual meeting, or other special meeting, at which such resolution is considered. The corporation may have preferred stock on such terms and conditions as the board of directors shall prescribe. The free transferability of the stock at all times to any person, firm, corporation, or other entity shall not be restricted except that, as to the corporation, it shall be transferable only on the books of the corporation. The corporation may issue shares of common stock in return for appropriate payments into capital or capital and surplus.
**(b) Fees and charges; annual transfer of earnings to general surplus account**
(1) The corporation may impose charges or fees, which may be regarded as elements of pricing, with the objective that all costs and expenses of the operations of the corporation should be within its income derived from such operations and that such operations should be fully self-supporting.
(2) All earnings from the operations of the corporation shall annually be transferred to the general surplus account of the corporation. At any time, funds of the general surplus account may, in the discretion of the board of directors, be transferred to reserves.
**(c) Capital distributions from general surplus account; minimum capitalization levels**
(1) Except as provided in paragr
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747a
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
All of the benefits and burdens incident to the administration of the functions and operations of the Association under sections 1720 and 1721, respectively, of this title, after allowance for related obligations of the Association, its prorated expenses, and the like, including amounts required for the establishment of such reserves as the Secretary of Housing and Urban Development shall deem appropriate, shall inure solely to the Secretary of the Treasury, and such related earnings or other amounts as become available shall be paid annually by the Association to the Secretary of the Treasury for covering into miscellaneous receipts.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747e
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
**(a) Seal, and other matters incident to operation** Each of the bodies corporate named in [section 1717(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1717/a/2&num=0&edition=prelim) shall have power to adopt, alter, and use a corporate seal, which shall be judicially noticed; to enter into and perform contracts, leases, cooperative agreements, or other transactions, on such terms as it may deem appropriate, with any agency or instrumentality of the United States, or with any State, Territory, or possession, or the Commonwealth of Puerto Rico, or with any political subdivision thereof, or with any person, firm, association, or corporation; to execute, in accordance with its bylaws, all instruments necessary or appropriate in the exercise of any of its powers; in its corporate name, to sue and to be sued, and to complain and to defend, in any court of competent jurisdiction, State or Federal, but no attachment, injunction, or other similar process, mesne or final, shall be issued against the property of the Association or against the Association with respect to its property; to conduct its business without regard to any qualification or similar statute in any State of the United States, including the District of Columbia, the Commonwealth of Puerto Rico, and the Territories and possessions of the United States; to lease, purchase, or acquire any property, real, personal, or mixed, or any interest therein, to hold, rent, maintain, modernize, renovate, improve, use, and operate such property, and to sell, for cash or credit, lease, or otherwise dispose of the same, at such time and in such manner as and to the extent that it may deem necessary or appropriate; to prescribe, repeal, and amend or modify, rules, regulations, o
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1747g
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
**(a) In general** The Director shall require each enterprise to obtain the approval of the Director for any product of the enterprise before initially offering the product.
**(b) Standard for approval** In considering any request for approval of a product pursuant to subsection (a), the Director shall make a determination that—
(1) in the case of a product of the Federal National Mortgage Association, the product is authorized under paragraph (2), (3), (4), or (5) of section 1717(b) or [section 1719 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1719&num=0&edition=prelim);
(2) in the case of a product of the Federal Home Loan Mortgage Corporation, the product is authorized under paragraph (1), (4), or (5) of [section 1454(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1454/a&num=0&edition=prelim);
(3) the product is in the public interest; and
(4) the product is consistent with the safety and soundness of the enterprise or the mortgage finance system.
**(c) Procedure for approval**
(1) **Submission of request** — An enterprise shall submit to the Director a written request for approval of a product that describes the product in such form as prescribed by order or regulation of the Director.
(2) **Request for public comment** — Immediately upon receipt of a request for approval of a product, as required under paragraph (1), the Director shall publish notice of such request and of the period for public comment pursuant to paragraph (3) regarding the product, and a description of the product proposed by the request. The Director shall give interested parties the opportunity to respond in writing to the proposed product.
(3) **Public comment period** — During the 30-day peri
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4544
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
Page 760
TITLE 12—BANKS AND BANKING
§ 1719
1 See References in Text note below.
percentage as the Association may determine, but not
less than 1 percent, for former provisions that contribu-
tions equal 3 percent of the unpaid amount of the mort-
gages or such greater percentage as from time to time
the Association may determine.
1954—Act Aug. 2, 1954, amended section generally to
substitute provisions relating to capitalization (for-
merly covered in section 1716 of this title) and to gen-
eral financial arrangements and operations for provi-
sions relating merely to use and investment of moneys
not invested in mortgages or in operating facilities
(such provisions now being covered by section 1723b of
this title), and the maintenance of necessary reserves.
1948—Act July 1, 1948, made section applicable to the
Association instead of to any of the national mortgage
associations.
1938—Act Feb. 3, 1938, inserted ‘‘or in bonds or other
obligations’’ and inserted ‘‘and may purchase in the
open market notes, bonds, debentures, or such other
obligations issued under section 1717 of this title’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1968 AMENDMENT
For effective date of amendment by title VIII of Pub.
L. 90–448, see section 808 of Pub. L. 90–448, set out as an
Effective Date note under section 1716b of this title.
SPECIAL ASSISTANCE FUNDS OF ASSOCIATION FOR
FINANCING LOW-COST HOMES
Pub. L. 89–754, title X, § 1006, Nov. 3, 1966, 80 Stat. 1285,
provided that the Congress found that the sharp decline
in new home construction over the past year threat-
ened to undercut the present high level of prosperity
and employment as such declines had in the past; that
the substantial reduction which had taken place had its
greatest impact on fa
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1719
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.