12 U.S.C. § 1701g — Untitled legal text

Page 433 TITLE 12—BANKS AND BANKING § 1701g–5 tive studies with industry, labor, etc.; and exercise of powers by Secretary. See sections 1701z–1 to 1701z–4 of this title. § 1701f–1. Repealed. Pub. L. 90–19, § 5(c), May 25, 1967, 81 Stat. 21 Section, act Aug. 10, 1948, ch. 832, title III, § 304, as added July 15, 1949, ch. 338, title IV, § 401, 63 Stat. 431, provided for appointment, powers, and compensation of a Director. Section was previously repealed by Pub. L. 89–534, § 8(a), Sept. 6, 1966, 80 Stat. 655. §§ 1701g to 1701g–3. Omitted Editorial Notes CODIFICATION Sections 1701g to 1701g–3 were from sections 102 to 102c of the Housing Act of 1948, and provided for loans to aid production and distribution of prefabricated housing; provided for loans to assure maintenance of industrial capacity for production of such homes for national defense; provided for the powers of the Hous- ing and Home Finance Administrator; and included mo- bile or portable houses within the term ‘‘prefabricated houses’’. Authority for issuance of section 1701g obliga- tions under section 1(4) of Reorg. Plan No. 23 of 1950 as terminating June 30, 1954, see section 1701g–5 of this title. Authority to make or purchase section 1701g–1 loans or obligations as terminating July 31, 1954, see section 1591c of Title 42, The Public Health and Welfare. Section 1701g, act Aug. 10, 1948, ch. 832, title I, § 102, 62 Stat. 1275, amended Sept. 1, 1951, ch. 378, title V, § 501, 65 Stat. 311. Section 1701g–1, act Aug. 10, 1948, ch. 832, title I, § 102a, added Sept. 1, 1951, ch. 378, title V, § 502, 65 Stat. 312. Section 1701g–2, act Aug. 10, 1948, ch. 832, title I, § 102b, added Sept. 1, 1951, ch. 378, title V, § 502, 65 Stat. 312; amended July 14, 1952, ch. 723, § 10(e), 66 Stat. 604. Section 1701g–3, act Aug. 10, 1948, ch. 832, title I, § 102c, added Sept. 1, 1951, ch. 378, title V, § 502, 65 Stat. 312. § 1701g–4. Omitted Editorial Notes CODIFICATION Section, which placed restrictions on loans, was from the Independent Offices Appropriation Act, 1953, act July 5, 1952, ch. 578, title III, § 301, 66 Stat. 415, and was not repeated in subsequent appropriation acts. Statutory Notes and Related Subsidiaries SIMILAR PROVISIONS Similar provisions were contained in Aug. 31, 1951, ch. 376, title IV, § 401, 65 Stat. 287. § 1701g–5. Revolving fund in connection with liq- uidating programs There is established as of June 30, 1954, a re- volving fund, and the Secretary of Housing and Urban Development is authorized to credit said fund with all moneys hereafter obtained or now held by him or by any constituent agency of the Department of Housing and Urban Development or any other official thereof, and to account under said fund for all assets and liabilities, in connection with (1) community facilities pro- vided or assisted under title II of the Lanham Act, as amended [42 U.S.C. 1531 et seq.], or under title III of the Defense Housing and Community Facilities and Services Act of 1951, as amended [42 U.S.C. 1592 et seq.]; (2) loans or advances made pursuant to title V of the War Mobiliza- tion and Reconversion Act of 1944 (58 Stat. 791), or the Act of October 13, 1949; (3) functions transferred under Reorganization Plan No. 23 of 1950, or authorized under sections 102, 102a, 102b, and 102c of the Housing Act of 1948, as amended [12 U.S.C. 1701g to 1701g–3]; (4) notes or other ob- ligations purchased pursuant to the Alaska Housing Act, as amended (48 U.S.C. 484(a)); (5) subsistence homesteads and greentowns (Acts of June 29, 1936, 49 Stat. 2035, and May 19, 1949, 63 Stat. 68); (6) public war housing under title I of the Lanham Act, as amended [42 U.S.C. 1521 et seq.], and defense housing under title III of the Defense Housing and Community Facilities and Services Act of 1951, as amended [42 U.S.C. 1592 et seq.]; and (7) veterans’ re-use housing under title V of the Lanham Act, as amended [42 U.S.C. 1571 et seq.]: Provided, That said fund shall be available for all necessary expenses (in- cluding administrative expenses) in connection with the liquidation of the programs carried out pursuant to the foregoing provisions of law, in- cluding operation, maintenance, improvement, or disposition of facilities, and for disburse- ments pursuant to outstanding commitments against moneys herein authorized to be credited to said fund, repayment of obligations to the Treasury, and refinancing and refunding oper- ations on existing loans: Provided further, That any amount in said fund which is determined to be in excess of requirements for the purposes hereof shall be declared and paid as liquidating dividends to the Treasury not less often than an- nually: Provided further, That after June 24, 1954, no additional notes or obligations shall be pur- chased from funds appropriated pursuant to the Alaska Housing Act, as amended (48 U.S.C. 484(d)), except for the furtherance or refinancing of an existing loan: Provided further, That except for extensions, or refinancing, of existing obliga- tions the authority to issue obligations to the Secretary of the Treasury under section 1(4) of Reorganization Plan No. 23 of 1950, shall termi- nate on June 30, 1954. (June 24, 1954, ch. 359, title II, § 201, 68 Stat. 295.) Editorial Notes REFERENCES IN TEXT The Lanham Act, as amended, referred to in cls. (1), (6), and (7), is act Oct. 14, 1940, ch. 862, 54 Stat. 1125, known as the Lanham Public War Housing Act. Title I of the Lanham Act is classified generally to subchapter II (§ 1521 et seq.) of chapter 9 of Title 42, The Public Health and Welfare. Titles II and V of the Lanham Act were classified to subchapters III (§ 1531 et seq.) and VI (§ 1571 et seq.), respectively, of chapter 9 of Title 42, and were omitted from the Code. For further details, see References in Text note set out under section 1522 of Title 42. For complete classification of this Act to the Code, see Short Title note set out under section 1501 of Title 42 and Tables. The Defense Housing and Community Facilities and Services Act, as amended, referred to in cls. (1) and (6), is act Sept. 1, 1951, ch. 378, 65 Stat. 293. Title III of the Act is classified generally to subchapter IX (§ 1592 et seq.) of chapter 9 of Title 42. For complete classifica- tion of this Act to the Code, see Short Title of 1951 Amendment note set out under section 1501 of Title 42 and Tables. The War Mobilization and Reconversion Act of 1944, referred to in cl. (2), is act Oct. 3, 1944, ch. 480, 58 Stat.