12 U.S.C. § 1732 — Separability

Page 784 TITLE 12—BANKS AND BANKING § 1732 1 See References in Text note below. 1 See References in Text note below. Editorial Notes PRIOR PROVISIONS A prior section 513 of act June 27, 1934, was renum- bered section 513A of act June 27, 1934, and is classified to section 1732 of this title. AMENDMENTS 1984—Pub. L. 98–479 substituted ‘‘Prohibition against transient housing’’ for ‘‘Prohibition against use of in- sured multifamily housing for transient or hotel pur- poses’’ in section catchline. 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’ wherever appearing in subsecs. (b) to (d), (e)(1), (f), and (g). § 1732. Separability If any provision of this chapter, or the applica- tion thereof to any person or circumstances, is held invalid, the remainder of the chapter, and the application of such provision to other per- sons or circumstances, shall not be affected thereby. (June 27, 1934, ch. 847, title V, § 513A, formerly § 513, 48 Stat. 1265; renumbered Pub. L. 98–479, title II, § 204(a)(19), Oct. 17, 1984, 98 Stat. 2232.) Statutory Notes and Related Subsidiaries REFERENCES IN OTHER LAWS Pub. L. 98–479, title II, § 204(a)(19), Oct. 17, 1984, 98 Stat. 2232, provided in part that: ‘‘Any reference in any law, regulation, order, document, record, or other paper of the United States to the section redesignated in this paragraph [this section] hereby is deemed to refer to section 513A of the National Housing Act [this sec- tion].’’ § 1733. Application of other laws The provisions of section 1430(a)(1) 1 and 1430b of this title; the seventh paragraph of section 24 of this title; section 371 of this title; subsection (n) of section 77B of the Bankruptcy Act, as amended (49 Stat. 664); section 606i of title 15, continuing and extending the functions of the Reconstruction Finance Corporation; and all other provisions of law establishing rights under mortgages insured in accordance with the provi- sions of this chapter, shall be held to apply to such chapter, as amended. (June 27, 1934, ch. 847, title V, § 514, as added Feb. 3, 1938, ch. 13, § 11, 52 Stat. 26.) Editorial Notes REFERENCES IN TEXT Section 1430(a) of this title, referred to in text, was amended by Pub. L. 106–102, title VI, § 604(a), Nov. 12, 1999, 113 Stat. 1451, and, as so amended, the provisions formerly appearing in section 1430(a)(1) now appear in section 1430(a)(3)(A). Section 77B of the Bankruptcy Act, referred to in text, was classified to section 207 of former Title 11, Bankruptcy. The Bankruptcy Act (act July 1, 1898, ch. 541, 30 Stat. 544, as amended), which was classified gen- erally to former Title 11, was repealed effective Oct. 1, 1979, by Pub. L. 95–598, §§ 401(a), 402(a), Nov. 6, 1978, 92 Stat. 2682, section 101 of which enacted Revised Title 11. See table preceding section 101 of Revised Title 11. Section 606i of title 15, referred to in text, was omit- ted from the Code. See note under section 606i of Title 15, Commerce and Trade. Executive Documents ABOLITION OF RECONSTRUCTION FINANCE CORPORATION See section 6(a) of Reorg. Plan No. 1 of 1957, effective June 30, 1957, 22 F.R. 4633, 71 Stat. 647, set out in the Appendix to Title 5, Government Organization and Em- ployees. § 1734. Amendment, extension, or increase of commitment amounts At any time prior to final endorsement for in- surance, the Secretary, in his discretion, may amend, extend, or increase the amount of any commitment, provided the mortgage, as finally endorsed for insurance is eligible for insurance under the provisions of this chapter and the rules and regulations thereunder, in effect at the time the original commitment to insure was issued. (June 27, 1934, ch. 847, title V, § 515 as added Oct. 25, 1949, ch. 729, § 3, 63 Stat. 906; amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17; Pub. L. 98–479, title II, § 204(a)(20), Oct. 17, 1984, 98 Stat. 2232.) Editorial Notes AMENDMENTS 1984—Pub. L. 98–479 struck out ‘‘; mortgage condi- tions’’ after ‘‘amounts’’ in section catchline. 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’. § 1735. Payment of certain funds to Treasury The following funds shall be deemed an indebt- edness to the United States of the particular in- surance fund involved, and the Secretary is au- thorized and directed to pay the amount of such indebtedness to the Secretary of the Treasury, with simple interest thereon from the date the funds were advanced to the date of final pay- ment at a rate determined by the Secretary of the Treasury, taking into consideration the av- erage rate on outstanding marketable obliga- tions of the United States from the date the funds were advanced until the date of final pay- ment— (1) funds made available to the Secretary pursuant to the provisions of sections 1705 and 1708 of this title, exclusive of amounts here- tofore refunded, (a) for carrying out this sub- chapter and section 484d of title 48 with re- spect to mortgages insured under section 1709 of this title where such funds were credited to the general reinsurance account in the Mutual Mortgage Insurance Fund, and (b) for the pay- ment of salaries and expenses with respect to mortgage insurance under sections 1713 and 1715a of this title where such funds were cred- ited to the Housing Insurance Fund; (2) funds made available to the Secretary pursuant to sections 1737 and 1748a 1 of this title; and (3) funds made available to the Secretary by the Secretary of the Treasury pursuant to sec- tion 1747i 1 of this title. Payments to the Secretary of the Treasury under this section shall be made in such