§ 4527. General powers of Secretary

Footnotes

1. 1 See References in Text note below.

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. 1970

   Housing and Urban Development Act of 1970

   Pub. L. 91–609 title VII § 726 · 84 Stat. 1770

   Enacted · 42 U.S.C. § 4527

   (Pub. L. 91–609, title VII, § 726, Dec. 31, 1970, 84 Stat. 1801.)

   Source evidence

   Code source credit
   (Pub. L. 91–609, title VII, § 726, Dec. 31, 1970, 84 Stat. 1801.)

   Enacted provision · exact public law section
   Sec. 726. general provisions In the performance of, and with respect to, the functions, Powers. powers, and duties vested in him by this part, the Secretary, in addition to any authority otherwise vested in him, shall— (1) have the functions, powers, and duties (including the authority to issue rules and regulations) set forth in section 402, except subsections (c) (2), (c) (4), (d), and (f), of the Housing 64 Stat. 78; 73 Stat. 681. 12 USC 1749a. Act of 1950: Provided, That subsection (a) (1) of section 402 shall not apply with respect to functions, powers, and duties under section 719 of this part; (2) have the power, notwithstanding any other provision of law, in connection with any assistance under this part, whether before or after any default, to provide by contract for the extinguishment upon default of any redemption, equitable, legal, or other right, title, or interest of the private new community developer or State land development agency in any mortgage, deed, trust, or other instrument held by or on behalf of the Secretary for the protection of the security interests of the United States; and (3) have the power to foreclose on any property or commence any action to protect or enforce any right conferred upon him by law, contract, or other agreement, and bid for and purchase at any foreclosure or other sale any property in connection with widen he has provided assistance pursuant to this part. In the event of any such acquisition, the Secretary may, notwithstanding any other provision of law relating to the acquisition, handling, or disposal of real property by the United States, complete, administer, remodel and convert, dispose of, lease, and otherwise deal with, such property. Notwithstanding any other provision of law, the Secretary shall also have power to pursue to final collection by way of compromise or otherwise all claims acquired by him in connection with any security, subrogation, or other rights obtained by him in administering this part.

1 of 1 references resolved to an enrolled provision