To carry out the purposes of this chapter, the Secretary is authorized to establish in the Treasury of the United States an Emergency Homeowners' Relief Fund (hereinafter in this chapter referred to as the "fund") which shall be available to the Secretary without fiscal year limitation—
(1) for making payments in connection with defaulted loans or advances of credit insured under section 2704 of this title;
(2) for making emergency mortgage relief payments under section 2705 of this title;
(3) to pay such administrative expenses (or portion of such expenses) of carrying out the provisions of this chapter as the Secretary may deem necessary.
(Pub. L. 94–50, title I, §107, July 2, 1975, 89 Stat. 252; Pub. L. 98–479, title II, §204(m)(1), Oct. 17, 1984, 98 Stat. 2234; Pub. L. 111–203, title XIV, §1496(b)(4), July 21, 2010, 124 Stat. 2208.)
Sections: Previous 2616 2617 2701 2702 2703 2704 2705 2706 2707 2708 2711 2801 2802 2803 2804 Next
Last modified: October 26, 2015