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§ 1701k. —  Right to redeem property on which United States has lien.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1701k]

 
                       TITLE 12--BANKS AND BANKING
 
                      CHAPTER 13--NATIONAL HOUSING
 
Sec. 1701k. Right to redeem property on which United States has 
        lien
        
    The right to redeem provided for by section 2410(c) of title 28, 
shall not arise in any case in which the subordinate lien or interest of 
the United States derives from the issuance of insurance under the 
National Housing Act, as amended [12 U.S.C. 1701 et seq.].

(Apr. 20, 1950, ch. 94, title V, Sec. 505, 64 Stat. 81; Pub. L. 85-857, 
Sec. 13(q), Sept. 2, 1958, 72 Stat. 1266.)

                       References in Text

    The National Housing Act, as amended, referred to in text, is act 
June 27, 1934, ch. 847, 48 Stat. 1246, as amended, which is classified 
principally to this chapter (Sec. 1701 et seq.). For complete 
classification of this Act to the Code, see section 1701 of this title 
and Tables.

                          Codification

    Section was enacted as part of the Housing Act of 1950, and not as 
part of the National Housing Act which comprises this chapter.


                               Amendments

    1958--Pub. L. 85-857 struck out provisions which related to the 
right to redeem in cases in which the subordinate lien or interest 
derives from the issuance of guaranties of insurance under the 
Serviceman's Readjustment Act of 1944, as amended.


                    Effective Date of 1958 Amendment

    Amendment by Pub. L. 85-857 effective Jan. 1, 1959, see section 2 of 
Pub. L. 85-857, set out as an Effective Date note preceding part 1 of 
Title 38, Veterans' Benefits.


    Act April 20, 1950, as Controlling Law; Housing and Home Finance 
                        Administrator Unaffected

    Section 509 of act Apr. 20, 1950, provided that: ``Insofar as the 
provisions of any other law are inconsistent with the provisions of this 
Act [see Tables for classification] the provisions of this Act shall be 
controlling: Provided, That nothing contained in this Act shall affect 
the authority of the Housing and Home Finance Administrator under title 
II of Public Law 266, Eighty-first Congress [Act Aug. 24, 1949, ch. 506, 
title II, 63 Stat. 657].''


      Powers and Authorities of Act April 20, 1950, as Cumulative; 
                              Separability

    Section 510 of act Apr. 20, 1950, provided that: ``Except as may be 
otherwise expressly provided in this Act [see Tables for classification] 
all powers and authorities conferred by this Act shall be cumulative and 
additional to and not in derogation of any powers and authorities 
otherwise existing. Notwithstanding any other evidences of the intention 
of Congress, it is hereby declared to be the controlling intent of 
Congress that if any provisions of this Act, or the application thereof 
to any persons or circumstances, shall be adjudged by any court of 
competent jurisdiction to be invalid, such judgment shall not affect, 
impair, or invalidate the remainder of this Act or its applications to 
other persons and circumstances, but shall be confined in its operation 
to the provisions of this Act, or the application thereof to the persons 
and circumstances, directly involved in the controversy in which such 
judgment shall have been rendered.''

                  Section Referred to in Other Sections

    This section is referred to in title 28 section 2410.



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