12 U.S.C. § 1470 : US Code - Section 1470: Federal supervision of insured institutions, State member and nonmember banks; access to information; definitions

Search 12 U.S.C. § 1470 : US Code - Section 1470: Federal supervision of insured institutions, State member and nonmember banks; access to information; definitions

(a)(1) The Federal Savings and Loan Insurance Corporation with
respect to insured institutions, the Board of Governors of the
Federal Reserve System with respect to State member insured banks,
and the Federal Deposit Insurance Corporation with respect to State
nonmember insured banks shall by appropriate rule, regulation,
order, or otherwise regulate investment in State housing
corporations.
(2) A State housing corporation in which financial institutions
invest under the authority of this section shall make available to
the appropriate Federal supervisory agency referred to in paragraph
(1) such information as may be necessary to insure that investments
are properly made in accordance with this section.
(b) For the purposes of this section and any Act amended by this
section -
(1) The term "insured institution" has the same meaning as in
section 401(a) of the National Housing Act [12 U.S.C.
1724(a)].(!1)
(2) The terms "State member insured banks" and "State nonmember
insured banks" have the same meaning as when used in the Federal
Deposit Insurance Act [12 U.S.C. 1811 et seq.].
(3) The term "State housing corporation" means a corporation
established by a State for the limited purpose of providing
housing and incidental services, particularly for families of low
or moderate income.
(4) The term "State" means any State, the District of Columbia,
Guam, the Commonwealth of Puerto Rico, and the Virgin Islands.