12 U.S. Code § 1735f–1 - Waiver of deduction on assignment of property to Secretary in lieu of foreclosure

prev | next
Notwithstanding any other provision of this chapter, from and after November 3, 1966, the Secretary, under such terms and conditions as he may approve, may waive all or a part of the 1 per centum deduction otherwise made from insurance benefits with respect to multifamily housing or land development mortgages assigned to him, where the assignment is made at his request in lieu of foreclosure of the mortgage.


(June 27, 1934, ch. 847, title V, § 523, as added Pub. L. 89–754, title III, § 312,Nov. 3, 1966, 80 Stat. 1271.)


LII has no control over and does not endorse any external Internet site that contains links to or references LII.