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12 U.S.C. § 1750g — Annual audited financial statements
Federal law — U.S. Code and appendices · legal_authorities
With respect to fiscal year 1989 and for every fiscal year thereafter, the Secretary shall make available to the public a financial statement of the insurance funds established under this chapter that will present their financial condition on a cash and accrual basis, consistent with generally accepted accounting principles. Each financial statement shall be audited by an independent accounting firm selected by the Secretary and the results of such audit shall be made available to the public.
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Source file: Laws/federal/codes/united-states-code/title-12/section-1750g-annual-audited-financial-statements--7244d9f649.md
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Source location: Title 12, Chapter 13, § 1750g; chapter-013-national-housing.md
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With respect to fiscal year 1989 and for every fiscal year thereafter, the Secretary shall make available to the public a financial statement of the insurance funds established under this chapter that will present their financial condition on a cash and accrual basis, consistent with generally accepted accounting principles. Each financial statement shall be audited by an independent accounting firm selected by the Secretary and the results of such audit shall be made available to the public.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Limitations; termination of certain commitments; requirements; discrimination against children** This subchapter is designed to supplement systems of mortgage insurance under other provisions of this chapter in order to assist in providing adequate housing in areas which the President, pursuant to [section 1591 of title 42](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1591&num=0&edition=prelim), shall have determined to be critical defense housing areas. The Secretary is authorized, upon application by the mortgagee, to insure under this section or [section 1750g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1750g&num=0&edition=prelim) as hereinafter provided any mortgage which is eligible for insurance as hereinafter provided and upon such terms as the Secretary may prescribe to make commitments for the insuring of such mortgages prior to the date of their execution or disbursement thereon: Provided, That the property covered by the mortgage is in an area which the President, pursuant to [section 1591 of title 42](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1591&num=0&edition=prelim), shall have determined to be a critical defense housing area, and that the total number of dwelling units in properties covered by mortgages insured under this subchapter in any such area does not exceed the number authorized by the Secretary of Housing and Urban Development from time to time as needed in such area for defense purposes and to be insured pursuant to this subchapter: Provided further, That in the event the Secretary has issued a commitment to insure a mortgage under this section, which commitment was in force and effect on June 1, 1953, and the Secretary determin
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701z–11
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Conveyance and assignment by mortgagee after foreclosure; debentures and certificates of claim; cost of foreclosure** In any case in which the mortgagee under a mortgage insured under [section 1750b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1750b&num=0&edition=prelim) shall have foreclosed and taken possession of the mortgaged property, in accordance with regulations of, and within a period to be determined by, the Secretary, or shall, with the consent of the Secretary, have otherwise acquired such property from the mortgagor after default, the mortgagee shall be entitled to receive the benefit of the insurance as hereinafter provided, upon (1) the prompt conveyance to the Secretary of title to the property which meets the requirements of rules and regulations of the Secretary in force at the time the mortgage was insured, and which is evidenced in the manner prescribed by such rules and regulations; and (2) the assignment to him of all claims of the mortgagee against the mortgagor or others, arising out of the mortgage transaction or foreclosure proceedings, except such claims as may have been released with the consent of the Secretary. Upon such conveyance and assignment the obligation of the mortgagee to pay the premium charges for insurance shall cease and the Secretary shall, subject to the cash adjustment hereinafter provided, issue to the mortgagee debentures having a total face value equal to the value of the mortgage and a certificate of claim, as hereinafter provided. For the purposes of this subsection, the value of the mortgage shall be determined, in accordance with rules and regulations prescribed by the Secretary, by adding to the amount of the original principal obligation of the mortgage which was u
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1701z–12
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary shall not insure under section 1713 or [section 1715a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715a&num=0&edition=prelim) or under [section 1743 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1743&num=0&edition=prelim) pursuant to any application for insurance filed subsequent to the effective date of this section, or under [section 1715e of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715e&num=0&edition=prelim), or under subchapter VII pursuant to any application filed subsequent to sixty days after April 20, 1950, or under section 1748b or 1748h–2 of this title, or under [section 1750g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1750g&num=0&edition=prelim), a mortgage or investment which covers property on which there is or is to be located a dwelling or dwellings, or a housing project, the construction of which was or is to be commenced subsequent to such date, unless the principal contractor files a certificate or certificates (at such times, in course of construction or otherwise, as the Secretary may prescribe) certifying that the laborers and mechanics employed in the construction of the dwelling or dwellings or the housing project involved have been paid not less than the wages prevailing in the locality in which the work was performed for the corresponding classes of laborers and mechanics employed on construction of a similar character, as determined by the Secretary of Labor, in accordance with sections 3141–3144, 3146, and 3147 of title 40, prior to the beginning of construction and after the date of the filing of the application for insurance. The provi
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1723
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Projects covered** Notwithstanding any of the provisions of this chapter and without regard to limitations upon eligibility contained in any section or subchapter of this chapter, other than the limitation in [section 1709(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1709/g&num=0&edition=prelim), the Secretary is authorized, upon application by the mortgagee, to insure or make commitments to insure under any section or subchapter of this chapter any mortgage—
(1) executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof); or
(2) executed in connection with the sale by the Secretary of Housing and Urban Development, or by any public housing agency with the approval of the Secretary, of any housing (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof) owned or financially assisted pursuant to the provisions of Public Law 671, Seventy-sixth Congress; or
(3) executed in connection with the sale by the Government, or any agency or official thereof, of any of the so-called Greenbelt towns, or parts thereof, including projects, or parts thereof, known as Greenhills, Ohio; Greenbelt, Maryland; and Greendale, Wisconsin, developed under the Emergency Relief Appropriation Act of 1935, or of any of the village properties or employee’s housing under the jurisdiction of Tennessee Valley Author
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1730f to 1730i
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Federal law — U.S. Code and appendices · legal_authorities
Page 851
TITLE 12—BANKS AND BANKING
§ 1750g
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1954 AMENDMENT
Amendment by act Aug. 2, 1954, as not applicable in
any case where the mortgage involved was insured or
the commitment for such insurance was issued prior to
Aug. 2, 1954, see section 112(e) of that act, set out as a
note under section 1710 of this title.
§ 1750d. Repealed. Pub. L. 89–117, title XI,
§ 1108(aa), Aug. 10, 1965, 79 Stat. 507
Section, act June 27, 1934, ch. 847, title IX, § 905, as
added Sept. 1, 1951, ch. 378, title II, § 201, 65 Stat. 301,
provided for management of National Defense Housing
Insurance Fund, issue and cancellation of debentures,
and receipt and payment of charges and fees.
§ 1750e. Taxation
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.
(June 27, 1934, ch. 847, title IX, § 906, as added
Sept. 1, 1951, ch. 378, title II, § 201, 65 Stat. 301;
amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81
Stat. 17.)
Editorial Notes
AMENDMENTS
1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com-
missioner’’.
§ 1750f. Rules and regulations
The Secretary is authorized and directed to
make such rules and regulations as may be nec-
essary to carry out the provisions of this sub-
chapter.
(June 27, 1934, ch. 847, title IX, § 907, as added
Sept. 1, 1951, ch. 378, title II, § 201, 65 Stat. 301;
amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81
Stat. 17.)
Editorial Notes
AMENDMENTS
1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com-
missioner’’.
§ 1750g. Insurance of additional mortgages
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1750g
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