§ 1469. — Authority to invest in State housing corporations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1469]
TITLE 12--BANKS AND BANKING
CHAPTER 12--SAVINGS ASSOCIATIONS
Sec. 1469. Authority to invest in State housing corporations
The Congress finds that Federal savings and loan associations and
national banks should have the authority to assist in financing the
organization and operation of any State housing corporation established
under the laws of the State in which the corporation will carry on its
operation. It is the purpose of this section to provide a means whereby
private financial institutions can assist in providing housing,
particularly for families of low- or moderate-income, by purchasing
stock of and investing in loans to any such State housing corporation
situated in the particular State in which the Federal savings and loan
association or national bank involved is located.
(Pub. L. 93-100, Sec. 5(a), Aug. 16, 1973, 87 Stat. 343.)
References in Text
This section, referred to in text, means section 5 of Pub. L. 93-
100, which enacted this section and section 1470 of this title and
amended sections 24 and 1464 of this title.
Codification
Section was not enacted as part of the Home Owners' Loan Act of 1933
which comprises this chapter.
Effective Date
Section 8 of Pub. L. 93-100 provided that: ``The provisions of this
Act [enacting this section and sections 1470 and 1832 of this title,
amending sections 24, 461 note, 1464, 1725, 1727 and 1828 of this title,
and enacting provisions set out as notes under section 548 of this
title] shall take effect on the thirtieth day after the date of its
enactment [Aug. 16, 1973], except that the amendments made by sections 1
and 5 [enacting this section and section 1470 of this title and amending
sections 24, 461 note, and 1464 of this title] shall take effect on the
date of enactment of this Act [Aug. 16, 1973].''