Page:United States Statutes at Large Volume 71.djvu/333

 71

STAT.]

297

PUBLIC LAW 85-104-JULY 12, 1957

OTHER PROVISIONS RELATING TO F H A INSURANCE PROGRAMS

SEC. 105. Section 2 of the National Housing Act is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: " (g) Any payment for loss made after December 31, 1957, to an approved financial institution under this section shall be final and incontestable after two years from the date the claim was certified for payment by the Commissioner, in the absence of fraud or misrepresentation on the part of such institution, unless a demand for repurchase of the obligation shall have been made on behalf of the United States prior to the expiration of such two-year period.". SEC. 106. Section 203(d) of the National Housing Act is repealed. SEC. 107. Section 204 of the National Housing Act is amended by adding at the end thereof the following new subsection: " (k) Notwithstanding any other provision of this section or of section 604 or 904, with respect to any debentures issued pursuant to this section or section 604 or 904, the Commissioner may (1) include in such debentures reasonable payments made by the mortgagee, with the approval of the Commissioner, for the purpose of protecting, operating, or preserving the property, and taxes imposed upon any deed or other instrument by which the property was acquired by the mortgagee and transferred or conveyed to the Commissioner, and (2) terminate the mortgagee's obligation to pay mortgage insurance premiums upon receipt of an application for debentures filed by the mortgagee.". SEC. 108. (a) The second sentence of section 204(d) of the National Housing Act is amended by striking out "determined by the Commissioner, with the approval of the Secretary of the Treasury, at the time the mortgage was offered for insurance, but not to exceed 3 per centum per annum" and by inserting in lieu thereof "established by the Commissioner pursuant to section 224". (b) The second sentence of section 207(i) of such Act is amended by striking out "determined by the Commissioner, with the approval of the Secretary of the Treasury, at the time the mortgage was insured, but not to exceed 3 per centum per annum" and by inserting in lieu thereof "established by the Commissioner pursuant to section 224,". (c) The second sentence of section 803(f) of such Act is amended by striking out "determined by the Commissioner with the approval of the Secretary of the Treasury, at the time the mortgage was accepted for insurance, but not to exceed 3 per centum per annum" and by inserting in lieu thereof "established by the Commissioner pursuant to section 224". SEC. 109. Section 207(c)(3) of the National Housing Act is amended by striking out "limitations per room" and inserting in lieu thereof "limitations^*, and by inserting immediately after "$1,000 per room" the following: "without regard to the number of rooms being less than four, or four or more,". SEC. 110. The unnumbered paragraph immediately following paragraph (3) of section 207(c) of the National Housing Act is amended (1) by striking out "$8,100 per fam^y unit" and inserting in lieu thereof "$8,100 per family unit (or $8,400 per family unit in the case of projects to consist of elevator-type structures)", and (2) by inserting before the period at the end thereof a comma and the following: "and may permit single elderly persons to use and occupy such units". SEC. 111. Section 207(q) of the National Housing Act is repealed. SEC. 112. Sections 213(e), 220 (f)(1), 221 (g)(1), and 222 (e) of the National Housing Act are each amended by striking out "and (h) of section 204" and inserting in lieu thereof " (h), and (j) of section 204".

48 Stat. 1246. 12 USC 1703. F i n a n c i a l institutions.

12 USC 17 09. 12 USC 1710. Debentures.

12 USC 1710.

Rental housing. 12 USC 1713.

Military housing. 12 USC 1748b.

Rental housing. Mortgage amount increases. 12 USC 1713.

12 USC 17 1 5 e, 17 1Sk, 17 1 5 /, 171Sm.

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