Us Code § 12858 - Transition
Full text of Us Code United States Code § 12858 — Transition, with citation guidance and answers to common questions.
§ 12858. Transition
(a) Authority of Secretary
Upon the termination of the Trust as provided in section 12859 of this title, the Secretary of Housing and Urban Development shall exercise any authority of the Board of Directors and the Trust in accordance with the provisions of this subchapter as may be necessary to provide for the conclusion of the outstanding affairs of the Trust.
(b) Applicability of Trust provisions
Any assistance under this subchapter shall, after termination of the Trust, be subject to the provisions of this subchapter that would have applied to such assistance if the termination had not occurred.
(c) Certification of Fund to Treasury
Upon a determination by the Secretary of Housing and Urban Development that the National Homeownership Trust Fund is no longer necessary, the Secretary shall certify any amounts remaining in the Fund to the Secretary of the Treasury and the Secretary of the Treasury shall deposit into the general fund of the Treasury as miscellaneous receipts any amounts remaining in the Fund.
(Pub. L. 101–625, title III, §309, Nov. 28, 1990, 104 Stat. 4133.)
About This Section
42 U.S.C. § 12858 is part of Title 42 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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