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42 U.S.C. · The Public Health and Welfare
42 U.S.C. § 3538

Rescheduling and refinancing of Federal loans

Ch. 44 — DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Title 42 U.S.C. ● ACTIVE Primary Source Ch. 44
Statutory Text

42 U.S.C. § 3538 — Rescheduling and refinancing of Federal loans

U.S.C. Title 42 - THE PUBLIC HEALTH AND WELFARE 42 U.S.C. United States Code, 2023 Edition Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 44 - DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Sec. 3538 - Rescheduling and refinancing of Federal loans From the U.S. Government Publishing Office, www.gpo.gov

§3538. Rescheduling and refinancing of Federal loans

The Secretary of Housing and Urban Development is authorized to refinance any note or other obligation which is held by him in connection with any loan made by the Department of Housing and Urban Development or its predecessor in interest, or which is included within the revolving fund for liquidating programs established by the Independent Offices Appropriation Act of 1955 [12 U.S.C. 1701g–5], where he finds such refinancing necessary because of the loss, destruction, or damage (as a result of a major disaster) to property or facilities securing such obligations. The Secretary may authorize a suspension in the payment of principal and interest charges on, and an additional extension in the maturity of, any such loan for a period not to exceed five years if he determines that such action is necessary to avoid severe financial hardship.

(Pub. L. 91–606, title II, §236(b), Dec. 31, 1970, 84 Stat. 1754.)

Editorial Notes

References in Text The Independent Offices Appropriation Act of 1955, referred to in text, is act June 24, 1954, ch. 359, 68 Stat. 272. Provisions of the act which established the revolving fund for liquidating programs are classified to section 1701g–5 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Tables.

Codification Section was not enacted as part of the Department of Housing and Urban Development Act which comprises this chapter. Section was formerly classified to section 4455(b) of this title.

Statutory Notes and Related Subsidiaries

Effective Date Section effective Dec. 31, 1970, see section 304 of Pub. L. 91–606, set out as an Effective Date of 1970 Amendment note under section 165 of Title 26, Internal Revenue Code.

Source: uscode.house.gov — public domain Official Source ↗
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42 U.S.C. § 3538
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The statutory text of 42 U.S.C. § 3538 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 42 U.S.C. § 3537c 42 U.S.C. § 3539 →
Ch. 44 — DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
42 U.S.C. § 353142 U.S.C. § 353242 U.S.C. § 353342 U.S.C. § 3533a42 U.S.C. § 353442 U.S.C. § 353542 U.S.C. § 3535a42 U.S.C. § 353642 U.S.C. § 3536a42 U.S.C. § 353742 U.S.C. § 3537a42 U.S.C. § 3537b42 U.S.C. § 3537c42 U.S.C. § 353842 U.S.C. § 353942 U.S.C. § 354042 U.S.C. § 354142 U.S.C. § 354242 U.S.C. § 354342 U.S.C. § 354442 U.S.C. § 354542 U.S.C. § 3545a42 U.S.C. § 354642 U.S.C. § 354742 U.S.C. § 354842 U.S.C. § 354942 U.S.C. § 3550
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