U.S. Code » Title 12 » Chapter CHAPTER 13— NATIONAL HOUSING › Subchapter SUBCHAPTER II— MORTGAGE INSURANCE › Subtitle “subtitle b— prepayment of mortgages insured under national housing act

12 U.S.C. § 226

ALTERNATIVE STATE STRATEGY.

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“(a)Criteria for Approval.—The Secretary may approve a State strategy for purposes of section 225(a) only upon finding that it is a practicable statewide strategy that ensures at a minimum that—“(1) current tenants will not be involuntarily displaced (except for good cause);“(2) housing opportunities for minorities will not be adversely affected in the communities within which the housing is located;“(3) any increase in rent for current tenants shall be to a level that does not exceed 30 percent of the adjusted income of the tenants or the fair market rent for comparable housing under section 8(b) of the United States Housing Act of 1937 [42 U.S.C. 1437f(b)], whichever is lower, except that any increase not necessitated by increased operating costs shall be phased in equally over not less than 3 years if such increase exceeds 10 percent;“(4) housing approved under the State strategy will remain affordable to very low-income, lower income or moderate income families and persons for not less than the remaining term of the original mortgage, if the housing is to be made available for rental, or for not less than 40 years, if the housing is to be made available for homeownership;“(5)(A) not less than 80 of all units in eligible low income housing approved under the State strategy shall be retained as affordable to families or persons meeting the income eligibility standards for initial occupancy that applies to the housing on January 1, 1987; and“(B) not less than 60 percent of the units in any one project shall remain available and affordable to such families or persons, within which not less than 20 percent of the units shall remain available and affordable to very low income families or persons as determined by the Secretary with adjustments for smaller and larger families;“(6) expenditures for rehabilitation, maintenance and operation shall be at a level necessary to maintain the housing as decent, safe and sanitary for the period specified in paragraph (4);“(7) not less than 25 percent of new assistance required to maintain low income affordability in accordance with this section shall be provided through State and local actions, such as tax exempt financing, low-income tax credits, State or local tax concessions, and other incentives provided by the State or local governments; and“(8) for each unit of eligible low income housing approved under the State strategy that is not retained as affordable to families or persons meeting the income eligibility standards for initial occupancy on January 1, 1987, the State will provide with State funds 1 additional unit of comparable housing in the same market area that is available and affordable to such families or persons, and such units or funds shall be made available before the Secretary approves the State strategy.“(b)Additional Requirements.—“(1) The Secretary may not approve a State strategy until the State has entered into all of the agreements necessary to carry out the strategy.“(2) Each State strategy shall include any other provision that the Secretary determines to be necessary to implement an approved State strategy.“(c)Implementation Agreements.—The Secretary may enter into such agreements as are necessary to implement an approved State strategy, which agreements may include incentives that are authorized in other provisions of this subtitle.
Notes of Decisions
Cited in 11 cases (4 in the last 5 years), 1983–2024 · leading case: Donmar Enter., Inc. v. S. Nat'l Bank, 828 F. Supp. 1230 (W.D.N.C. 1993).
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Donmar Enter., Inc. v. S. Nat'l Bank, 828 F. Supp. 1230 (W.D.N.C. 1993). “12 U.S.C.A. § 226 (West 1989). 3 . Regulation J itself defines Fedwire as "the funds-transfer system owned and operated by the Federal Reserve Bank that is used primarily for the transmission and settlement of payment orders governed by this subpart.”
Alabama Cent. Credit Union v. United States, 646 F. Supp. 1199 (N.D. Ala. 1986). “Pursuant to the Monetary Control Act of 1980, 12 U.S.C. §§ 226 , et seq., ACCU was required to spin off its corporate business and establish a separate organization, Alabama Corporate Credit Union, to service its corporate credit union members.”
Matter of Indiana State Bar Ass'n, 550 N.E.2d 311 (Ind. 1990). “Within the past *314 decade, interest bearing checking accounts became authorized by the Consumer Checking Account Equity Act of 1980, 12 U.S.C. § 226 , amending 12 U.S.C. § 1832 .”
In re Indiana State Bar Ass'n's Petition to Authorize a Prog. Governing Interest on Lawyers' Trust Accounts, 550 N.E.2d 311 (Ind. 1990). “Within the past *314 decade, interest bearing checking accounts became authorized by the Consumer Checking Account Equity Act of 1980, 12 U.S.C. § 226 , amending 12 U.S.C. § 1882 .”
Flagship Nat'l Bank of Miami v. Com. Bank & Trust Co., 428 So. 2d 361 (Fla. 3d DCA 1983). “1512 (1982) (to be codified at 12 U.S.C. § 226 note).”
Am. Bankers Ass'n v. United States (Fed. Cl. 2017). · cites it 3× “3641 (1978) (codified at 12 U.S.C. § 226 note (2012) (Separability; Right to Amend, Alter or Repeal)).”
Smith v. Crowl (E.D. Cal. 2023). “12 U.S.C. § 226 . 12 Plaintiff does not specify any provision of the Federal Reserve Act that defendants allegedly 13 violated.”
Rorrer [Whitfield] v. JW Revocable Living Trust, Attorney-In-Fact for John Joseph Whitfield (D.S.C. 2023). “12 U.S.C. § 226 et seq. 12 U.S.C. § 411 titled “Issuance to reserve banks; nature of obligation; redemption,” governs the issuance of Federal Reserve notes and delegates to the Federal Reserve System the power to make clear that such notes are authorized currency of the United…”
Kinnaird v. Capital One (N.D. Ala. 2024). “MEMORANDUM OPINION Septemba Kinnaird sues Capital One, asserting claims pursuant to the Federal Reserve Act, 12 U.S.C. § 226 ; the Bill of Exchange Act; 12 U.”
Urrego v. Samuel White P.C. (E.D. Va. 2019). “, and Count III pursuant to the Truth in Lending Act (“TILA”), 12 U.S.C. § 226 , et seg., and the Home Ownership and Equity Protection Act (“HOEPA”), 15 U.”
Hall v. NYC Water Bd. (S.D.N.Y. 2024). “2 Public Use and the Takings Clause,” the “Federal Trade Commission Act, (pursuant to) Section 5(a),” “12 USC § 411 and 12 USC § 226 ,” “Chapter 2(6) of the Negotiable Instruments Act of 1881, regarding the Bill of Ex[c]hange.”
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