Page:United States Statutes at Large Volume 106 Part 5.djvu/327

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3965 •\ (e) or (f) of section 307 of the Federal Home Loan Mortgage Corporation Act, or section 1337 of this title. (b) PROCEDURE.— (1) NOTICE OF CHARGES. —Each notice of charges shall contain a statement of the facts constituting the alleged conduct and shall fix a time and place at which a hearing will be held to determine on the record whether an order to cease and desist from such conduct should issue. (2) ISSUANCE OF ORDER.—If the Secretary finds on the record made at such hearing that any conduct specified in the notice of charges has been established (or the enterprise consents pursuant to section 1342(a)(4)), the Secretary may issue and serve upon the enterprise an order requiring the enterprise to (A) submit a housing plan in compliance with section 1336(c), (B) comply with the housing plan, or (C) provide the information required under subsection (m) or (n) of section 309 of the Federal National Mortgage Association Charter Act, subsection (e) or (f) of section 307 of the Federal Home Loan Mortgage Corporation Act, or section 1337 of this title. (c) EFFECTIVE DATE.— An order under this section shall become effective upon the expiration of the 30-day period beginning on the service of the order upon the enterprise (except in the case of an order issued upon consent, which shall become effective at the time specified therein), and shall remain effective and enforceable as provided in the order, except to the extent that the order is stayed, modified, terminated, or set aside by action of the Secretary or otherwise, as provided in this subpart. (d) TRANSITION PERIOD LIMITATION. —The Secretary may not impose any cease-and-desist order under this section for any failure by an enterprise, during the 2-year period beginning on the January 1, 1993, to comply with an approved housing plan, unless the Secretary determines that the enterprise has mtentionally failed to make a good faith effort to comply with the approved plan. SEC. 1342. HEARINGS. 12 USC 4582. (a) REQUIREMENTS.— (1) VENUE AND RECORD.—Any hearing under section 1341 or 1345 shall be held on the record and in the District of Columbia. (2) TIMING. —Any such hearing shall be fixed for a date not earlier than 30 days nor later than 60 days after service of the notice of charges under section 1341(b)(l) or determination to impose a penalty under section 1345(c)(l), unless an earlier or a later date is set by the hearing officer at the request of the enterprise served. (3) PROCEDURE. —Any such hearing shall be conducted in accordance with chapter 5 of title 5, United States Code. (4) FAILURE TO APPEAR.—I f the enterprise served fails to appear at the hearing through a duly authorized representative, such enterprise shall be deemed to have consented to the issuance of the cease-and-desist order or the imposition of the penalty for which the hearing is held. (b) ISSUANCE OF ORDER. — (1) IN GENERAL.— After any such hearing, and within 90 days after the enterprise has been notified that the case has been submitted to the Secretary for final decision, the Secretary shall render the decision (which shall include findings of fact

�