12 USC 4102 - Notice of intent

U.S Code last checked for updates: May 02, 2024

§ 4102.

Notice of intent

(a)

Filing with Secretary

(b)

Filing with State or local government, tenants, and mortgagee

(c)

Ineligibility for filing

An owner shall not be eligible to file a notice of intent under this section if the mortgage covering the housing—

(1)

falls into default on or after November 28, 1990; or

(2)

(A)

fell into default before, but is current as of, November 28, 1990; and

(B)

the owner does not agree to recompense the appropriate Insurance Fund, in the amount the Secretary determines appropriate, for any losses sustained by the Fund as a result of any work-out or other arrangement agreed to by the Secretary and the owner with respect to the defaulted mortgage.

The Secretary shall carry out this subsection in a manner consistent with the provisions of section 1701z–11 of this title.

(Pub. L. 100–242, title II, § 212, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249.)

cite as: 12 USC 4102