US LAWS, STATUTES & CODES ON-LINE

US Supreme Court Decisions On-Line | US Laws



§ 2708. —  Authorization of appropriations; limitations; expiration date for loans and advances of credit.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC2708]

 
                       TITLE 12--BANKS AND BANKING
 
                  CHAPTER 28--EMERGENCY MORTGAGE RELIEF
 
Sec. 2708. Authorization of appropriations; limitations; 
        expiration date for loans and advances of credit
        
    (a) There are authorized to be appropriated for purposes of this 
chapter such sums as may be necessary, except that the funds authorized 
to be appropriated for section 2705 of this title shall not exceed 
$500,000,000. Any amounts so appropriated shall remain available until 
expended.
    (b) No loans or advance of credit shall be insured and no emergency 
mortgage relief payments made under this chapter after September 30, 
1977, except if such loan or advance or such payments are made with 
respect to a mortgagor receiving the benefit of a loan or advance 
insured, or emergency mortgage relief payments made, under this chapter 
on such date.

(Pub. L. 94-50, title I, Sec. 109, July 2, 1975, 89 Stat. 253; Pub. L. 
94-375, Sec. 13(a), Aug. 3, 1976, 90 Stat. 1075.)


                               Amendments

    1976--Subsec. (b). Pub. L. 94-375 substituted ``September 30, 1977'' 
for ``June 30, 1976''.



chanrobles.com.Com