Notes on 42 U.S.C. § 9822 : US Code - Notes

Search Notes on 42 U.S.C. § 9822 : US Code - Notes

(Pub. L. 97-35, title VI, Sec. 633, Aug. 13, 1981, 95 Stat. 498.)
REFERENCES IN TEXT
The Economic Opportunity Act of 1964, referred to in text, is
Pub. L. 88-452, Aug. 20, 1964, 78 Stat. 508, as amended. Title VII
of the Economic Opportunity Act of 1964 was classified generally to
subchapter VII (Sec. 2981 et seq.) of chapter 34 of this title,
prior to repeal by Pub. L. 97-35, title VI, Sec. 683(a), Aug. 13,
1981, 95 Stat. 519. For complete classification of this Act to the
Code, see Tables.
CODIFICATION
"August 12, 1981" substituted in text for "the day before the
date of the enactment of this Act".
TRANSFER OF COMMUNITY DEVELOPMENT CREDIT UNION REVOLVING LOAN FUND
Pub. L. 99-609, Nov. 6, 1986, 100 Stat. 3475, provided that:
"SECTION 1. SHORT TITLE.
"This Act may be cited as the 'Community Development Credit Union
Revolving Loan Fund Transfer Act'.
"SEC. 2. TRANSFER OF COMMUNITY DEVELOPMENT CREDIT UNION REVOLVING
LOAN FUND.
"(a) Administration of Fund by NCUA. -
"(1) In general. - Beginning on the date of the enactment of
this Act [Nov. 6, 1986], the National Credit Union Administration
Board shall administer the Community Development Credit Union
Revolving Loan Fund.
"(2) Transfer of authority. - All authority to carry out the
purposes of the Fund and to prescribe regulations in connection
with the administration of the Fund which, on the day before the
date of the enactment of this Act, was vested in the Secretary of
Health and Human Services shall vest on such date in the Board.
Except as provided in subsection (c), the Secretary shall have no
further responsibility with respect to the Fund.
"(b) Continued Availability of Appropriated Funds. - All funds
appropriated to the Fund and interest accumulated in the Fund which
continue to be available under section 633 of the Omnibus Budget
Reconciliation Act of 1981 [42 U.S.C. 9822] shall continue to be
available to the Board to carry out the purposes of the Fund.
"(c) Transfer of Assets; Etc. - The Secretary shall transfer to
the National Credit Union Administration all assets, liabilities,
grants, contracts, property, records, and funds held, used, arising
from, or available to the Secretary in connection with the
administration of the Fund before the end of the 60-day period
beginning on the date of the enactment of this Act [Nov. 6, 1986].
"(d) Savings Provisions. -
"(1) Regulations. - Any regulations prescribed by the Secretary
in connection with the administration of the Fund shall continue
in effect until superseded by regulations prescribed by the
Board.
"(2) Existing rights, duties, and obligations not affected. -
Subsection (a) shall not be construed as affecting the validity
of any right, duty, or obligation of the United States or any
other person arising under or pursuant to any contract, loan, or
other instrument or agreement which was in effect on the day
before the date of the enactment of this Act [Nov. 6, 1986].
"(3) Continuation of suits. - No action or other proceeding
commenced by or against the Secretary in connection with the
administration of the Fund shall abate by reason of the enactment
of this Act, except that the Board shall be substituted for the
Secretary as a party to any such action or proceeding.
"(e) Definitions. - For purposes of this section -
"(1) Board. - The term 'Board' means the National Credit Union
Administration Board.
"(2) Fund. - The term 'Fund' means the Community Development
Credit Union Revolving Loan Fund established under title VII of
the Economic Opportunity Act of 1964 [see References in Text note
above] (as in effect before the date of the enactment of the
Omnibus Budget Reconciliation Act of 1981 [Aug. 13, 1981]).
"(3) Secretary. - The term 'Secretary' means the Secretary of
Health and Human Services."