12 U.S.C. § 1470
(a)(1) The appropriate Federal banking agency, with respect to the institutions subject to the jurisdiction of each such agency, shall by appropriate rule, regulation, order, or otherwise regulate investment in State housing corporations.
(2) A State housing corporation in which financial institutions invest under the authority of this section shall make available to the appropriate Federal banking agency referred to in paragraph (1) such information as may be necessary to insure that investments are properly made in accordance with this section.
(b) For the purposes of this section and any Act amended by this section-
(1) The term "insured institution" has the same meaning as in section 401(a) of the National Housing Act [ 12 U.S.C. 1724(a) ].1
(2) The terms "State member insured banks" and "State nonmember insured banks" have the same meaning as when used in the Federal Deposit Insurance Act [ 12 U.S.C. 1811 et seq.].
(3) The term "State housing corporation" means a corporation established by a State for the limited purpose of providing housing and incidental services, particularly for families of low or moderate income.
(4) The term "State" means any State, the District of Columbia, Guam, the Commonwealth of Puerto Rico, and the Virgin Islands.
1 See References in Text note below.
12 U.S.C. § 1470
EDITORIAL NOTES
REFERENCES IN TEXTThis section, referred to in subsec. (a)(2), refers to section 5 of Pub. L. 93-100 which enacted this section and section 1469 of this title and amended sections 24 and 1464 of this title.This section and any Act amended by this section, referred to in subsec. (b), are this section and sections 24 par. Seventh, 1464(c), and 1469 of this title.Section 401(a) of the National Housing Act, referred to in subsec. (b)(1), which was classified to section 1724 of this title, was repealed by Pub. L. 101-73 §407, Aug. 9, 1989, 103 Stat. 363.The Federal Deposit Insurance Act, referred to in subsec. (b)(2), is act Sept. 21, 1950, ch. 967, §2, 64 Stat. 873, which is classified generally to chapter 16 (§1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.
CODIFICATIONSection was not enacted as part of the Home Owners' Loan Act of 1933, which comprises this chapter.Subsecs. (d) and (e) of section 5 of Pub. L. 93-100 have been designated subsecs. (a) and (b) for purposes of codification.
AMENDMENTS2010-Subsec. (a)(1). Pub. L. 111-203 §375(1), substituted "appropriate Federal banking agency, with respect to the institutions subject to the jurisdiction of each such agency," for "Federal Savings and Loan Insurance Corporation with respect to insured institutions, the Board of Governors of the Federal Reserve System with respect to State member insured banks, and the Federal Deposit Insurance Corporation with respect to State nonmember insured banks". Subsec. (a)(2). Pub. L. 111-203 §375(2), substituted "banking" for "supervisory".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111-203 effective on the transfer date, see section 351 of Pub. L. 111-203 set out as a note under section 906 of Title 2, The Congress.
EFFECTIVE DATESection effective Aug. 16, 1973, see section 8 of Pub. L. 93-100 set out as a note under section 1469 of this title.
- State
- The term "State" means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the United States Virgin Islands or any federally recognized Indian tribe, as defined by the Secretary of the Interior under section 5131(a) of title 25.