§ 1428. Examination of State laws, regulations, and procedures; studies of values, etc.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1932

   Federal Home Loan Bank Act

   Pub. L. 72–522 § 8 · 47 Stat. 725

   Enacted · 12 U.S.C. § 1428

   July 22, 1932, ch. 522, § 8, 47 Stat. 731

   Source evidence

   Code source credit
   July 22, 1932, ch. 522, § 8, 47 Stat. 731

   Enacted provision · exact public law section
   Sec. 8. examinations and studies by the board The board shall cause to be made from time to time examinations Examination and studies by the board. of the laws of the various States of the United States and the regulations and procedure thereunder governing conditions under which institutions of the kinds which may become members or nonmember borrowers under this Act are permitted to be formed or to do business, or relating to the conveying or recording of land titles, or to homestead and other rights, or to the enforcement of the rights of holders of mortgages on lands securing loans, or otherwise. If any such examination shall indicate, in the opinion of the Operations restricted where conditions unsatisfactory. board, that under the laws of any such State or the regulations or procedure thereunder there would be inadequate protection to a Federal Home Loan Bank in making or collecting advances under this Act, the board may withhold or limit the operation of any Federal Home Loan Bank in such State until satisfactory conditions of law, regulation, or procedure shall be established. In any State Establishment of examination of borrowers where State law inadequate. where State examination of members or nonmember borrowers is deemed inadequate for the purposes of the Federal Home Loan Banks, the board shall establish such examination, all or part of the cost of which may be considered as part of the cost of making advances in such State. The banks and/or the board may make Trends of values to be studied. studies of trends of home and other property values, methods of appraisals, and other subjects such as they may deem useful for the general guidance of their policies and operations and those of institutions authorized to secure advances.

2. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title VII § 701(b)(1) · 103 Stat. 183

   Substituted · 12 U.S.C. § 1428

   Pub. L. 101–73 substituted “Board” for “board” wherever appearing

   Source evidence

   Code amendment note
   Pub. L. 101–73 substituted “Board” for “board” wherever appearing.

   Enacted provision · exact public law section
   (1) In general— Except as otherwise specifically provided in 12 USC 1421 et seq. this title, the Federal Home Loan Bank Act is amended by striking “board” (other than in section 7) and “Federal Home Loan Bank Board” each place such terms appear and inserting “Board”.

3. 2008

   Federal Housing Finance Regulatory Reform Act of 2008

   Pub. L. 110–289 div. A title II § 1204(8) · 122 Stat. 2654

   1. Substituted · 12 U.S.C. § 1428

      Pub. L. 110–289 substituted “The Director” for “The Board” wherever appearing

   2. Substituted · 12 U.S.C. § 1428

      Pub. L. 110–289 substituted “the Director” for “the Board” wherever appearing

   Source evidence

   Code amendment note
   Pub. L. 110–289 substituted “The Director” for “The Board” and “the Director” for “the Board” wherever appearing.

   Enacted provision · exact public law section
   (8) by striking 12 USC 1422 et al. “the Board” each place that term appears and inserting “the Director”;

4 of 4 references resolved to an enrolled provision