The law › Title 12, Banks and Banking › Chapter 13
12 U.S.C. 1723a: General powers of Government National Mortgage Association and Federal National Mortgage Association
Created in 1961 by Public Law 87-70. Changed by 12 later laws. No bill we track in this Congress changes it.
12 other sections of the Code cite this one, including 12 U.S.C. 1719, 12 U.S.C. 1833c, 12 U.S.C. 4514, 12 U.S.C. 4518, 12 U.S.C. 4520.
7 parts of federal rules cite it as their authority, written by Government National Mortgage Association, Department of Housing and Urban Development (5), Federal Housing Finance Agency (1), Office of Federal Housing Enterprise Oversight, Department of Housing and Urban Development (1).
- past change
- enacted this Congress
- proposed
This Congress
No bill we track in the 119th Congress changes this section.
How it got here
2008
- Pub. L. 110–289, §1161(b)(1), substituted "Director of the Federal Housing Finance Agency" for "Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development". (Housing and Economic Recovery Act of 2008) Law text · (d)
- Pub. L. 110–289, §1113(b)(1), added par. (4). (Housing and Economic Recovery Act of 2008) Law text · (d)
- Pub. L. 110–289, §1161(b)(1), substituted "Director of the Federal Housing Finance Agency" for "Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development". (Housing and Economic Recovery Act of 2008) Law text · (k)
- Pub. L. 110–289, §1161(b)(2)(A), substituted "to the Director of the Federal Housing Finance Agency, in a form determined by the Director" for "to the Secretary, in a form determined by the Secretary" in introductory provisions. (Housing and Economic Recovery Act of 2008) Law text · (m), (2)
- Pub. L. 110–289, §1161(b)(2)(B)(i), substituted "and the Director of the Federal Housing Finance Agency" for "and the Secretary". (Housing and Economic Recovery Act of 2008) Law text · (n)
- Pub. L. 110–289, §1161(b)(2)(B)(ii), substituted "Director of the Federal Housing Finance Agency" for "Secretary". (Housing and Economic Recovery Act of 2008) Law text · (n), (L)
- Pub. L. 110–289, §1161(b)(2)(C), substituted "Director of the Federal Housing Finance Agency" for "Secretary". See Codification note above. (Housing and Economic Recovery Act of 2008) Law text · (n)
2004
- Pub. L. 108–271 substituted "Government Accountability Office" for "General Accounting Office" wherever appearing. (GAO Human Capital Reform Act of 2004) Law text · (j)
1992
- Pub. L. 102–550, §1381(s)(3)(A)(ii), which directed the substitution, in last sentence, of "the basic pay of such persons" for "his basic pay", was executed by making the substitution in penultimate sentence to reflect the probable intent of Congress, because the words "his basic pa… · (d)
- Pub. L. 102–550, §1381(j)(1), (s)(3)(A)(i), in first sentence, substituted "as the board of directors determines reasonable and comparable with compensation for employment in other similar businesses (including other publicly held financial institutions or major financial services companies) involv… · (d)
- Pub. L. 102–550, §1381(j)(2), added par. (3). · (d)
- Pub. L. 102–550, §1381(s)(3)(B), substituted "the individual, association, partnership, or corporation" for "he or it". · (e)
- Pub. L. 102–550, §1381(k), struck out subsec. (h) which related to regulatory power over Federal National Mortgage Association, approval for issuance of stock and other instruments, relation of mortgage purchases to national goal, audits, and a report to Congress and subsec. (i) … · (h), (i)
- Pub. L. 102–550, §1381(l), designated existing provisions as par. (1), inserted first sentence and struck out former first sentence which read as follows: "The mortgage transactions of the corporation may be subject to audit by the Comptroller General of the United States in accordance… · (j)
- Pub. L. 102–550, §1381(m)–(q), added subsecs. (k) to (o), respectively. · (k), (l), (m), (n), (o)
1989
- Pub. L. 101–73 added subsec. (j). · (j)
1988
- Pub. L. 100–242 inserted at end of second sentence ", but such 45-day period may not be extended for any other reason or for any period in addition to or other than such 15-day period". · (i)
1984
- Pub. L. 98–479 substituted "chapter 91 of title 31" for "the Government Corporation Control Act". · (b)
- Pub. L. 98–440, §§208, 213(a), substituted "issued by the corporation before October 1, 1985," for "issued by the Corporation" and substituted "shall, not later than June 30 of each year, report to the Congress on the activities of the corporation under this subchapter" for "shall cond… · (h)
- Pub. L. 98–440, §209, added subsec. (i). · (i)
1977
- Pub. L. 95–128 inserted provision for review of the financial operations of the corporation and a study respecting how the activities of the corporation meet the purposes of this subchapter and transmittal of the review and study to the Congress. · (h)
1976
- Pub. L. 94–375 substituted "Subject to the provisions of section 1723(a) of this title, the Secretary" for "The Secretary". · (d)
1974
- Pub. L. 93–383 inserted "positions listed" before "in section 5312" and proviso relating to persons whose employment is subject to the civil service law by section 806 of the Housing and Community Development Act of 1974, and substituted reference to Jan. 31, 1972, for reference to … · (d)
1972
- Pub. L. 92–310 struck out provisions which related to bonds of officers, attorneys, employees, and agents of the Association and which permitted the Association to pay the premiums therefor. · (d)
1968
- Pub. L. 90–448, §802(z), among other changes, expanded scope to include both the Government National Mortgage Association and the Federal National Mortgage Association, substituted "conduct its business without regard to any qualification or similar statute" for "conduct its business",… · (a)
- Pub. L. 90–448, §802(aa), designated existing provisions as par. (1), and struck out provisions which required the Association, with respect to its secondary market operations under section 1719 of this title, to pay annually to the Secretary of the Treasury an amount equivalent to the… · (c)
- Pub. L. 90–448, §802(bb), designated existing provisions as par. (1), substituted "Secretary of Housing and Urban Development" for "Chairman of the Board", and "agents of the Association" for "agents", and added par. (2). · (d)
- Pub. L. 90–448, §802(cc), prohibited the use of the name Government National Mortgage Association, authorized injunctions, and permitted recovery of actual damages and punitive damages, and eliminated provisions which made violations of this subsection a misdemeanor punishable by a fin… · (e)
- Pub. L. 90–448, §802(dd), authorized and directed the Federal Reserve Banks to act for the Government National Mortgage Association, and empowered each of the bodies corporate to act as depositary, custodian, and fiscal agent, for its own account or as fiduciary, and for the account of… · (g)
- Pub. L. 90–448, §802(ee), added subsec. (h). · (h)
1961
- Pub. L. 87–70 inserted "or other security holdings" after "mortgages". · (c)
Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.